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VLS Finance Announces ₹125.4 Cr Share Buyback at ₹380 per Share

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Synopsis:

VLS Finance Limited announces a ₹125.4 crore buyback for 33 lakh shares at ₹380 each, representing 9.48% of its equity. The buyback period is from August 30 to September 5, 2024. With this buyback, the company aims to enhance shareholder value.

VLS Finance Share Buyback

VLS Finance Limited has launched a share buyback program to repurchase up to 33 lakh fully paid-up equity shares, constituting 9.48% of its total paid-up equity share capital. The buyback aims to return surplus cash to shareholders and enhance overall shareholder value.

Key Details of the Buyback

The share buyback will be conducted at a price of ₹380 per share, resulting in a total outlay of ₹125.4 crore. This buyback is structured as a "Tender Offer," which allows the company to repurchase shares from its existing shareholders on a proportionate basis.

The buyback period is set from August 30, 2024, to September 5, 2024.

VLS FINANCE LTD

Trade

364.45-11.04 (-2.94 %)

Updated - 12 December 2024
379.05day high
DAY HIGH
359.50day low
DAY LOW
101733
VOLUME (BSE)

Financial Impact and Strategy

The buyback size accounts for 8.21% of the aggregate of the company's fully paid-up equity share capital and free reserves on a standalone basis and 8.04% on a consolidated basis. This is as per the audited financial statements as of March 31, 2024.

The move is strategically aimed at optimising the capital structure of VLS Finance and improving the return on equity for its shareholders.

VLS Finance Share Price Performance

On August 28, the VLS Finance share price closed at ₹373, reflecting a marginal increase of 0.36% from the previous day. Over the past year, VLS Finance’s share price has seen a significant appreciation, delivering a return of 78.55%.

Market watchers will keep an eye on the stock as the announcement of the buyback could influence the VLS Finance share price in the short term.

Purpose of the Buyback

The primary purpose of the buyback is to distribute surplus cash back to the shareholders, thereby enhancing shareholder value. By reducing the number of outstanding shares, the company aims to improve earnings per share (EPS) and return on equity (ROE), creating a positive impact on long-term share performance.

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