Shervani Industrial Syndicate Limited (BSE:526117) announces a share repurchase program. Under the program, the company will repurchase up to 415,000 ordinary shares, representing 13.32% of its issued share capital for INR 207.5 million. The shares will be repurchased at a price of INR 500 per share. The purpose of the program is to return surplus cash to the shareholders of the company, thereby enhancing the overall return to shareholders, to improve return on equity, optimize the capital structure and mitigate the short term market volatility. The program will be funded out of its free reserves and/or cash balances and/ or internal accruals and/or such other sources or by such mechanisms as may be permitted by Law. The record date for the offer is March 29, 2019. The bid is valid till May 22, 2019. As at January 30, 2019, the company has 3,116,018 shares in issue.