Majesco announces Rs 631 cr share buyback plan

Insurance technology firm Majesco on Friday announced a share buyback plan of up to Rs 631.26 crore. The buyback represents 24.78 per cent of the total paid-up capital of the company. Shares of Majesco closed 0.9 per cent up at Rs 934.35 on BSE on Friday.

Insurance technology firm Majesco on Friday announced a share buyback plan of up to Rs 631.26 crore. The buyback will open on November 27 and close on December 11. "Maximum number of Equity Shares proposed to be bought back i.e. 74,70,540 equity shares multiplied by the buyback price i.e. Rs 845 aggregating up to Rs 631,26,06,300. The buyback size does not include any transaction costs," the offer document filed on the stock exchanges said. The buyback represents 24.78 per cent of the total paid-up capital of the company. Shares of Majesco closed 0.9 per cent up at Rs 934.35 on BSE on Friday.