Sterlite Tech announces Rs 145 cr share buyback plan

Broadband solution provider Sterlite technologies on Friday announced Rs 145 crore share buyback plan

"The Board in the aforementioned meeting, have approved the Buy-back by the Company of its equity shares for an aggregate amount not exceeding Rs 145 crore, being 9.95 per cent and 9.32 per cent of the total paid-up share capital and free reserves (including securities premium) of the company," STL said in a regulatory filing

The company has fixed maximum buyback price of Rs 150 per cent equity. It has fixed October 6 as the last date for the scheme. Shares of STL closed at Rs 63.9 apiece, down by 2.37 per cent, on the BSE.