Key Points of Godavari Power Share Buyback Plan:
- Godawari Power & Ispat has approved a share buyback plan of Rs 250 crore through the tender offer route.
- The approval of the buyback plan has resulted in an increase of over 1 percent in the company’s shares.
- Godawari Power & Ispat’s stock is currently trading at Rs 391 on the BSE, a significant increase from its value on February 27.
- The company’s stock has risen by 4 percent YTD and 1,300 percent in the past three years.
- The board has approved the buyback of 50 lakh equity shares, accounting for 3.66 percent of the total equity shares.
- The buyback price has been fixed at Rs 500 per share, which is over 22 percent higher than the last closing price, and is expected to boost investor confidence and increase shareholder value.
Details of Godavari Power Share Buyback Plan:
Godawari Power & Ispat Approves Rs 250 Crore Share Buyback Plan
Godawari Power & Ispat, a leading steel and power company, has recently approved a share buyback plan of Rs 250 crore through the tender offer route. As a result, shares of the company have increased by over 1 percent.
At the time of writing, Godawari Power & Ispat’s stock was trading 0.7 percent higher at Rs 391 on the BSE. This is a significant increase from the stock’s value of Rs 341.65 on February 27. The stock has even reached a high of Rs 393.35 today.
The company’s stock has risen by 4 percent YTD, but it has skyrocketed closer to 1,300 percent in the past three years.
Godawari Power & Ispat’s board has given its approval to buy back 50 lakh equity shares of Rs 5 each face value, accounting for 3.66 percent of the total equity shares. The buyback price has been fixed at “Rs 500 per share,” which is over 22 percent higher than the last closing price.
This move by Godawari Power & Ispat is expected to boost investor confidence and increase shareholder value.
About Godawari Power:
Godawari Power & Ispat operates primarily in the mining of iron ore and the manufacturing of various iron and steel products, including iron ore pellets, sponge iron, steel billets, wire rods, H.B. wire, and ferro alloys. Additionally, the company also generates electricity.
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