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BOSCH BOARD APPROVES SHARE BUYBACK FOR OVER RS 2000 CRORE


Auto components major Bosch will buy back 8.78 lakh shares, about 24.99 percent of the paid up capital of the company. Auto components major Bosch will buy back 8.78 lakh shares, about 24.99 percent of the paid up capital of the company, for Rs 2,019.76 crore. 

The company's board has approved the buyback of 8,78,160 shares of the face value of Rs 10 each at a price of Rs 23,000 per share aggregating to Rs 2,019.76 crore from the shareholders, Bosch said in a regulatory filing.

The share buyback is subject to approval of the shareholders, it added. The company's board, which met today, also noted the intention of the promoter firm Robert Bosch GmbH to participate in the buy back, the company said. The Bengaluru-based firm is a leading supplier of technology and services in the areas of mobility solutions, industry, consumer goods as well as energy.

 
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