Kaveri Seed Company Limited announces an Equity Buyback for INR 1,200.01 million worth of its shares.
August 25, 2021 at 04:35 am
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Kaveri Seed Company Limited (BSE:532899) announces a share repurchase program. Under the program, the company will repurchase shares for total worth of INR 1,200.01 million. The shares will be repurchased at a price not exceeding INR 850 per share. The purpose of the program is to enhance overall long-term shareholders’ value for continuing shareholders and to return surplus fund to the shareholders. The program will be funded from the internal accruals including free reserves of the company. As of August 20, 2021, the company had 60,329,133 shares are issued and outstanding. The program will be valid till March 1, 2022.
Kaveri Seed Company Limited is an India-based agricultural company. The Company specializes in hybrid seeds. The product portfolio of the Company consists of a range of high yielding seeds in field crops, such as maize, cotton, rice, pearl millet, mustard, wheat, sorghum, pulses, bajra, wheat, sunflower, and other vegetable crops, which includes tomatoes, okra, chilies, watermelon, gourds and brinjal. The Company sells its product under the brand name Kaveri. The Company owns seven modern seed processing and storage plants across various locations in India. The Company has approximately 100000 acres under seed production spread across different agro-climatic regions. The Company operates in the domestic market as well as in the exports market which includes Pakistan, Sri Lanka, Bangladesh and Vietnam. The Company's subsidiaries include Kaveri Microteck Private Ltd, Aditya Agri Tech Private Ltd, Genome Agritech Private Ltd and Genomix Agri Genetics Private Ltd.
KAVERI SEED COMPANY LIMITED 
