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HCL Technologies has said that it is going to buyback shares at Rs 1,000 apiece, a 17 percent premium over current trading price.
HCL Technologies has said in a regulatory filing that the company is proposing an offer for buyback of equity shares for cash at a price of Rs 1,000 per equity shares on a proportionate basis through tender offer process.
It added that the buyback size is Rs 3,500 crore, representing 16.39 percent and 13.62 percent of the aggregate of the fully paid-up equity share capital and free reserves as per the standalone and consolidated audited accounts of the Company for the financial year ended March 31, 2016.
