Bajaj Auto announces share buyback worth Rs 4,000 crore

Bajaj Auto on Monday announced a share buyback worth Rs 4,000 crore. The company’s board has approved the proposal for buy back of up to 4,000,000 shares of face value of Rs 10 each at a price of Rs 10,000 per share for a total consideration not exceeding Rs 4,000 crore, the Pune-based company said in a regulatory filing. The company’s board has constituted a buyback committee and has delegated the power to do all such acts, deeds, matters and things as it may deem necessary, expedient or proper in connection with the offer, it added. The buyback is subject to approval of the shareholders