Gandhi Special Tubes Limited (BSE:513108) announces a share repurchase program. Under the program, the company will repurchase up to 766,616 shares, representing 5.93% of its issued share capital for a total purchase price of INR 421.64 million. The shares will be repurchased at a price of INR 550 per share. The purpose of the program is to return surplus cash to its shareholders, thereby enhancing overall returns to shareholders and improve return on equity and earnings per share. The equity shares bought back by the company will be compulsorily cancelled. The funds for the implementation of the program will be sourced out of the free reserves and surplus, as permitted by the Buyback Regulations or the Act. The program is subject to shareholder approval by way of a special resolution. The program is valid till October 4, 2021. As of June 18, 2021, the company had 12,918,616 shares in issue.