Quick Heal Technologies rises 7% on buyback approval

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The board has approved the constitution of buyback committee regard to the buyback of equity shares of the company.






Shares of Quick Heal Technologies added 7 percent in the early trade on Wednesday after the board approved buyback of equity shares. Company board approved a proposal to buy back up to 63,63,636 equity shares of the company, is 9.02 percent of the total paid-up equity, for an aggregate amount not exceeding Rs 175 crore, at a price of Rs 275 per share.

Promoters of the company are going to participate in the buyback and offer up to 46,02,772 equity shares. The board has approved the constitution of buyback committee regard to buyback of equity shares of the company.

The buyback is proposed to be made from the shareholders of the company on a proportionate basis under the tender offer route using the stock exchange mechanism. At 09:25 hrs Quick Heal Technologies was quoting at Rs 236.25, up Rs 12.05, or 5.37 percent on the BSE.

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