Nucleus Software Ltd. said on Thursday that it will buy equity shares up to a maximum value of ₹72.4 crore. However, after the announcement, shares have dropped more than 5%.
Nucleus Software plans to buy back up to 4.48 lakh equity shares with a face value of ₹10, representing 1.67% of its total equity. The buyback price is set at ₹1,615 per share, a 6% premium to the company’s current market levels.
The record date for the share buyback has been set by Nucleus Software for September 3, 2024. A timetable for the buyback has not yet been disclosed by the firm.
As of 2:31 pm, Nucleus Software shares were trading 6.29% lower at Rs 1,428.30 on the NSE.
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