BSE share buyback: The stock exchange said it will spend Rs 374 crore on the buyback.
BSE share buyback: The board of BSE Ltd, the leading stock exchange in India, approved the share buyback via a tender route on July 6. The buyback price has been fixed at Rs 816 apiece. The company will buy back 45.9 lakh equity shares. The stock exchange said it will spend Rs 374 crore on the buyback.
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At the time of writing this news, the stock was trading at Rs 683.45 on the NSE, up 0.46 per cent.
A share buyback is the repurchase of a certain amount of a company’s outstanding shares, either through a tender offer or via an open market route. In such a situation, the price of the concerned shares is higher than the prevailing market price.
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For the fourth quarter of the last fiscal (Q4FY23), BSE reported a 24 per cent jump in net profit to Rs 88.61 crore. The exchange had posted a net profit of Rs 71.52 crore in the same quarter of the preceding fiscal, the BSE said in a regulatory filing to the National Stock Exchange (NSE).
BSE’s revenue from operations grew 11 per cent to Rs 227.01 crore in the latest March quarter. The same was at Rs 204.59 crore in the year-ago period.
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For 2022–23, the bourse’s net profit declined 16 per cent to Rs 205.65 crore from Rs 244.93 crore in the same period a year ago.
However, its revenue from operations rose 10 per cent to Rs 815.53 crore in FY23. In the year-ago period, the same stood at Rs 743.15 crore, according to a PTI report.
