Axita Cotton Limited (BSE:542285) announces a share repurchase program. Under the program, the company will repurchase up to 900,000 shares, representing 0.46% for INR 50.4 million. The shares will be repurchased at a price of INR 56 per share.

The purpose of repurchase program is to optimizing returns to the shareholders and enhancing the overall shareholders' value in longer term and improving the return on equity. The company will use it's free reserves to repurchase shares. The company has set June 2, 2023, as the record date for the offer.

The offer will close on June 14, 2023. As March 31, 2023, the company had 196,560,000 shares in outstanding.