Apar Industries Limited (BSE:532259) announces a share repurchase program. Under the program, the company will repurchase up to 450,000 shares, representing 1.17% of its outstanding shares. The company will repurchase the shares at a price of INR 660 per share, for a total consideration of INR 297 million. The repurchases will be made through a a tender offer. The funds for the buyback will be sourced from current balances of cash and cash equivalents and / or internal accruals of the company. The Board of Directors of the company has determined the record date to be January 20, 2017. The Buyback Offer is subject to approval, if any required, under the provisions of the Companies Act, 2013, FEMA, the Buyback Regulations and/or such other applicable rules and regulations in force for the time being. The purpose of the program is to improve earnings per share and return on equity thereby leading to long term increase in shareholders’ value. The program will expire on March 1, 2017.