25 Apr 07 GTL fixes buyback price
GTL has fixed the buyback price for its share buy back offer at Rs.300 per share. This is way above GTL’s current market price of Rs. 192. After this announcement was made the GTL scrip zoomed by over 7% to Rs.192, today. GTL has set aside Rs. 275 crores for the purpose of buyback of its equity shares.
The share buyback will benefit GTL’s shareholders. Those who sell out in the buyback offer as well as those who don’t participate will be benefited. Those hsareholders who participate in the buy back offer will get a price which is way above GTL’s current market price. On the other hand those who dont’t participate will also be benefited because key ratios like EPS and P/E Ratio will become more attractive because of a smaller equity base.
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dear mr. bullish indian, please tell me the date of gtl buy back , also if i buy gtl now, will i be able to fetch 300 whenever selling begins? waiting for a positive response!