DCM Shriram has received approval from the board of directors to buyback fully paid up equity shares of the company, for up to Rs.250 crore.

The company stated, “The maximum buyback size represents 8.16% and 8.37% of the aggregate of the company’s paid-up equity share capital and free reserves based on the standalone and consolidated audited financial statements of the company respectively, as at March 31, 2018.”

Further, the company has fixed the maximum price to buyback shares at Rs.450 per share.

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