Nucleus Software Surges Over 12% On Buyback Plans

Nucleus Software Exports Limited in early morning trade on the BSE, surged over 12% after getting board's nod on buyback plans.

The board of directors of the company in a meeting held on Monday, April 25, approved a buyback of up to an aggregate amount not exceeding 1,177.93 million at a price not exceeding Rs. 350/- per equity share, from the existing equity shareholders of the company on the record date to be determined on a proportionate basis through the 'Tender Offer' route as prescribed under the SEBI buyback regulations.

The buyback proposed will be at the maximum offer price of Rs. 350/- per equity share and for the maximum offer size of 1,177.93 million, the indicative maximum number of Equity Shares that can be bought back would be 33,65,523 fully paid up equity shares representing 10.39% of the total paid-up equity share capital of the Company.

In case the final buyback price is lower than the maximum buyback price, the indicative maximum number of shares will also go up accordingly.

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