At the maximum buy-back size and the maximum buy-back price, the indicative maximum number of equity shares to be bought back under the buyback would be 4 crore equity shares, which represents 1.67% of the total number of equity shares of the company. However, the actual number of equity shares to be bought back during the buy-back will depend upon the actual price paid (excluding the transaction costs) for the equity shares bought back and the aggregate actual amount utilised in the buyback, the company said in a statement during trading hours today, 17 March 2020.
The public announcement setting out the process, timelines and other requisite details will be released in due course, said the company.
Sun Pharmaceutical Industries’ consolidated net profit tanked 26.4% to Rs 913.52 crore on a 5% increase in net sales to Rs 8,038.65 crore in Q3 December 2019 over Q3 December 2018.
Sun Pharmaceutical Industries’ business segments include US Business, Indian branded generics business, Emerging markets, Global consumer healthcare business and Active Pharmaceutical Ingredients (API).