Yesterday, on October 10, the two-wheeler maker company announced the completion and closure of the buyback shares approved by the board of directors.

On July 4 2022, the company commenced buyback shares. The company has bought back 64,09,662 equity shares and an aggregate amount of Rs 2499.96 crore, representing 99.99 per cent of the maximum buyback size. The total amount earmarked for the purpose was up to Rs 2,500 crore. After the buyback of shares, the promoter shareholding in Bajaj Auto has increased from 53.77 per cent to 54.98 per cent earlier, and public shareholding in the company has decreased from 46.23 to 45.02 per cent.

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The company has to engage in the business of developing and distributing automobiles as well as manufacturers such as motorcycles, electric two-wheelers, commercial vehicles and their parts.

Bajaj Auto’s net profit declined to Rs 1,163.33 crore in the first quarter of FY23 compared with Rs 1,170.17 crore in FY22. The revenue from operation hit a high of 8.37 per cent yearly to Rs 8,005 crore at the end of the June quarter, led by pricing mix. The company’s shares rose 0.49 per cent to Rs 3619.40 on October 10 2022.