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| Exchange Disseminated Time 01/07/2016 16:52:26 | Bosch Ltd has informed BSE that the Board of Directors of the Company at its meeting held on July 01, 2016, has approved the buy-back of 8,78,160 fully paid up equity shares of face value Rs. 10 each per share (representing 2.796 % of the total paid-up equity share capital) of the Company at a price of Rs. 23,000/- (Rupees Twenty three thousand only) each per share aggregating to Rs. 20,197,680,000 (Rupees Twenty thousand one hundred and ninety seven million and six hundred eighty thousand Only) (representing 24.99% of the paid-up share capital and free reserves) from the shareholders of the Company on a proportionate basis through the “Tender Offer” route using the Stock Exchange Mechanism as prescribed under the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998, as amended ("Buy-Back").
The Buy-Back is subject to approval of the members by means of a special resolution through a postal ballot.
The Board of Directors have noted the intention of Robert Bosch GmbH, promoter of the Company, to participate in the Buy-Back. |
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