Bajaj Auto’s Buyback Offer Drives Share Price Higher: What Investors Should Know
Bajaj Auto has announced plans to buyback shares worth Rs. 4,000 crore through a tender offer route.
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The buyback price of Rs. 10,000 crore represents a steep 43% premium to the stock’s previous close
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Analysts expect the company’s promoters to participate significantly in the buyback, which could fetch them approximately Rs. 2,200 crore.
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The previous buyback conducted in 2020 involved purchasing shares at Rs. 4,600 apiece through stock exchange mechanisms.
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By announcing a buyback at such a steep premium now, Bajaj Auto has understandably driven keen interest from investors.
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The auto sector, in particular, is viewed favorably on recovery hopes post multiple headwinds.
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Bajaj Auto’s Buyback Offer Drives Share Price Higher: What Investors Should Know