InvestorQ : Can you tell me about the recent buyback of shares approved by Jagran Prakashan?
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Can you tell me about the recent buyback of shares approved by Jagran Prakashan?

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Juvina Maggie answered.
1 month ago
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The board of the Jagran Prakashan approved the buyback of shares worth Rs.118 crore. Jagran Prakashan is the company that publishes the widely circulated Dainik Bhaskar newspaper. The buyback price has been set at Rs.60 and it will be fully payable in cash. Prakashan will be buying back the shares from the open market.

In all, the company proposes to buy back a total of 1.97 crore representing 6.99% stake in the company. Jagran Prakashan has already stated that the detailed public announcement setting out the process, timelines and other statutory specifics of the buyback will be put out in due course of time. Post the buyback announcement, the stock price fell lower.

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