Shares of eClerx Services Ltd will trade ex-date on buyback on Monday, December 26. Shares of the global IT services company closed at Rs 1,371.50 on Friday.

The record date for the share buyback is Tuesday, December 27. “We would like to inform you that the buyback committee of the company’s board of directors, at its meeting held on December 15, 2022, approved Tuesday, December 27, 2022, as the filing date,” the company said in an exchange filing.

The share buyback record date determines a shareholder’s eligibility for participation in the buyback programme.

Shareholders will receive an offer letter and tender offer form relating to the repurchase and the shareholder’s rights in the buyback.

According to the company’s exchange filing, eClerx Services’ buyback size is 1,714,285.00 shares of stock. Through the tender offer, the final buyback price will be Rs 1,750 per share at a par value of Rs 10, for a price not exceeding Rs 300 crore.

eClerx Services delivered a positive return of 3% over the past six months. Year-to-date, eClerx Services has a negative yield of 26%. To put it in perspective, shares of eClerx Services, which traded at Rs 1,858.23 per share on January 3, are now trading at around Rs 1,371. Currently, the company has a market capitalisation of Rs 6,544 crore.

eClerx provides business process management, automation and analytics services to several Fortune 2000 companies, including some of the world’s leading financial services, communications, retail, fashion, media and entertainment, manufacturing, travel and leisure, and technology companies.