Shares of Majesco hit a record high of Rs.889 on 09 October, much higher than its announced buyback price of Rs.845. The buyback entails a total of 74.7 lakh shares of the company representing 25% of the paid up capital.
A number of India companies have been opting for the buyback route in the last few weeks as it is seen as a more efficient and economical route of distributing cash to shareholders from a tax perspective.
Shares of Majesco hit a record high of Rs.889 on 09 October, much higher than its announced buyback price of Rs.845. The buyback entails a total of 74.7 lakh shares of the company representing 25% of the paid up capital.
A number of India companies have been opting for the buyback route in the last few weeks as it is seen as a more efficient and economical route of distributing cash to shareholders from a tax perspective.