MUMBAI: Sending strong signals to the market that the music and movie company is on a major growth curve, Tips Industries said Wednesday it intends to buy back shares at a premium from its prevailing price.
The buyback offer price would not exceed Rs 75 per share, Tips said. The shares of Tips rose 6.24 per cent to close today at Rs 50.25 on the BSE.
Tips said that the amount would not exceed Rs 198.10 million, being 25 per cent of aggregate of paid-up equity capital and free reserves of the company as on 31 March 2009. Click here to read more