REG - Larsen & Toubro Ltd - Final Buyback Price

Larsen and ToubroAnnouncement

12/09/2023 11:30

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RNS Number : 1504M  Larsen & Toubro Limited  12 September 2023

Sub: Final Buyback Price

 

We refer to our intimation dated August 29, 2023 informing the stock exchange
about the public announcement for the Buyback of equity shares of the Company.

 

One of the key objectives of the Company's Strategic Plan, Lakshya '26, is to
enhance the return on equity (ROE) and thereby maximise shareholder value.
Return on equity capital to the shareholders in the form of Buyback of shares
of the Company is a step in that direction. To realise this strategic
objective and in consideration of the present market sentiments, we wish to
inform you  that the Buyback Committee of the Company at its meeting held on
September 11, 2023 has approved the following:

 

(i)    The Buyback Price has been increased from Rs. 3,000/- (Rupees Three
Thousand only) per Equity Share to Rs. 3,200/- (Rupees Three Thousand Two
Hundred only) per Equity Share; and

 

(ii)   The maximum number of Equity Shares proposed to be bought back by the
Company has been reduced from 3,33,33,333 (Three Crore Thirty Three Lakh
Thirty Three Thousand Three Hundred and Thirty Three) fully paid-up Equity
Shares to 3,12,50,000 (Three Crore Twelve Lakh Fifty Thousand) Equity Shares
representing 2.22% of the total paid-up equity shares of the Company.

 

Please click
https://investors.larsentoubro.com/listing-compliance-buyback.aspx
(https://investors.larsentoubro.com/listing-compliance-buyback.aspx) to
download copy of the addendum to the Public Announcement dated August 26,
2023, published on August 28, 2023 ("Addendum"). A copy of the Addendum is
also published in the Financial Express, Jansatta and Loksatta, and made
available on the Company's website at www.larsentoubro.com
(http://www.larsentoubro.com) , websites of the Managers at www.jmfl.com
(http://www.jmfl.com) and www.axiscapital.co.in (http://www.axiscapital.co.in)
, website of the Registrar to the buyback at www.karsima.kfintech.com
(http://www.karsima.kfintech.com) and website of SEBI at www.sebi.gov.in
(http://www.sebi.gov.in) .

 

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