Eclerx Announces ₹300 Crore Buyback of Equity Shares

Eclerx, a company, has decided to buy back some of its own shares.

This means they are offering to purchase shares from their current shareholders.

The company plans to spend ₹300 crore to buy back a maximum of 6.66 lakh shares.

Each share will be bought for ₹4,500.

This buyback represents about 21% of the total shares.

The buyback will happen through a process called a tender offer.

Small shareholders will have at least 15% of the shares reserved for them.

The decision was approved by the company's board, and the promoters won't be participating in the buyback.

The process will require shareholder approval and will be overseen by specific financial entities.