Claris Life jumps 8% on shareholders' nod for buyback offer

Written By Unknown on Jumat, 21 Maret 2014 | 16.02

Claris Lifesciences received approval from shareholders for buyback of up to 92.5 lakh shares (representing 15 percent of the paid up capital) at Rs 250 apiece.

Moneycontrol Bureau

Shares of  Claris Lifesciences rallied 8 percent intraday to Rs 195.05 after the the company received approval from shareholders for buyback of up to 92.5 lakh shares (representing 15 percent of the paid up capital) at Rs 250 apiece.

The healthcare company has fixed April 02 as the record date for purpose of determining entitlement and names of equity shareholders, to whom the letter of offer and tender form will be sent and who are eligible to participate in the buy back offer.

It aims to raise Rs 231.25 crore through this buy back offer.

"The buy back is proposed to be implemented by the company through tender offer process from equity shareholders on a proportionate basis," the company said in its filing.

Promoters Athanas Enterprises and Abellon Energy hold 49.49 percent and 10.73 percent stake in the company as of December 2013.

At 14:08 hours IST, the stock rose 2.02 percent to Rs 184 amid large volumes on the BSE.

Posted by Sunil Shankar Matkar


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