Bajaj Auto launches largest ever ₹12,000 per share buyback
Bajaj Auto is rolling out its largest-ever share buyback, offering ₹12,000 per share, about 19% higher than the last market price.
The company will repurchase nearly 4.7 million shares (1.68% of its equity) through the tender route, with June 24 (Wednesday) as the record date.
If you're a shareholder, this could mean some extra cash in your pocket.
Shareholders up to ₹200,000 reserved 15%
If you own shares worth up to ₹200,000, there's a reserved chunk for you: 15% of the total buyback (around ₹844.92 crore).
Analysts say almost all small shareholders who tender their shares will get accepted, with potential returns around 10.6%.
Experts suggest existing investors should take part, but new folks might want to look at Bajaj Auto's fundamentals instead of chasing the buyback.
Bajaj Auto shares have gained 22% over the past one year.