Hinduja Global Solution Limited board approves Rs 1,020 crore buy-back proposal

5paisa Research Team 20th December 2022 - 06:24 pm

Company also announced the appointment of two directors.

On Monday, 19th December 2022 held a board meeting wherein, it considered and approved the buyback proposal for fully paid-up equity shares of the company. Today, the company informed in the exchange filling that they have kept the buyback price for each equity share at Rs 1,700 which is the maximum buyback price. The company plans to buyback over 60 lakh shares indicative of the maximum buyback price.

The company is offering about a 29% premium per share. The buyback will be on a proportionate basis through a tender offer process under SEBI regulations. The company in the exchange filling also shared about the appointment of two directors.

Earlier, last week the company also informed about the completion of all the formalities in the acquisition of digital media business of NXTDIGITAL Limited. The acquisition is in line with the company's plans to take Hinduja Global Solution on a digital-led 2.0 journey.

Hinduja Global Solution (HGS) is engaged in business process management (BPM). HGS combines technology-powered services in automation, analytics and digital with domain expertise focusing on back-office processing, contact centres and HRO solutions to deliver transformational impact to clients.

Today, the stock opened at Rs 1403.10 with a high and low of Rs 1404.00 and Rs 1354.00. The stock previously closed at Rs 1405.95. The stock closed trading today at Rs 1363.85, down by 2.99%.

In the last six months, the shares of the company have given 38.30% returns and on a YTD basis, the stock has given -17.63 returns.

The stock has a 52-week high of Rs 1974.00 and a 52-week low of Rs 847.00. The company has a ROCE of 2.56% and an ROE of 125% with a market capitalisation of Rs 7,158 crore.

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5paisa Research Team

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