2023 Buyback of Equity Share Emami Limited

 This is the reference to earlier intimations from Emami Limited dated March 24, 2023 informing the Stock Exchanges that the Board of Directors approved the proposal of the Company to buyback the fully paid-up equity shares of the face value of ₹ 1/- (Rupee One Only) (“Equity Shares”) of the Company, each from its shareholders /beneficial owners (other than those who are promoters, members of the promoter group or persons in control), from the open market through stock exchange mechanism for an aggregate amount not exceeding ₹ 18,600 Lakhs (Rupees Eighteen Thousand Six Hundred Lakhs Only) (“Maximum Buyback Size”), and at a price not exceeding ₹ 450/- (Rupees Four Hundred Fifty Only) per Equity Share (“Maximum Buyback Price”), payable in cash (the process being referred hereinafter as “Buyback”).

 

The Buyback Committee (in accordance with the authority given by Board of Directors in their meeting held on March 24, 2023), in its meeting held today, March 27, 2023 has fixed the record date as April 12, 2023 (“Record Date”). In accordance with Regulation 17(ii) of the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended (“Buyback Regulations”), the Buyback Offer shall open not later than four Working Days from the date of the Record Date and shall close within sixty six Working Days from the date of the opening of the Buyback. Accordingly the Buyback Committee has decided to open the Buyback from April 13, 2023 and close at earlier of (a) sixty six Working Days i.e. July 19, 2023 from the date of the opening of the Buyback; or (b) when the Company completes the Buyback by deploying the amount equivalent to the Maximum Buyback Size; or (c) at such earlier date as may be determined by the Board (including a committee thereof, constituted by the Board or persons nominated by the Board / committee to exercise its powers, and / or the powers conferred by the Board resolution in relation to the Buyback), after giving notice of such earlier closure, subject to the Company having deployed an amount equivalent to the Minimum Buyback Size (even if the maximum Buyback Size has not been reached or the Maximum Buyback Shares have not been bought back).

 

Further and in accordance with the Regulation 15(ii) of Buyback Regulations, the Company shall utilize a minimum of 40% of the amount earmarked for the Buyback i.e. ₹ 7,440 Lakhs (Rupees Seven Thousand Four Hundred Forty Lakhs Only) within the initial half of the sixty six Working Days from the date of the opening of the Buyback.

 

Pursuant to the Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended and Regulation 17(ii) of Buyback Regulations, it is hereby informed that the

 

 

Company has fixed April 12, 2023 as the record date for the purpose of determining of opening of Buyback, which shall not be later than four working days from the Record Date.

 

Symbol / Security Code	Type of Security	Book Closure (both days inclusive) (From/To)	Record Date	Purpose
Scrip         Code: 531162   Symbol: EMAMILTD	Equity	N.A.	April 12, 2023	Pursuant to the Regulation 42 of SEBI (Listing Obligations and                          Disclosure Requirements) Regulations, 2015, as amended and Regulation 17(ii) of Buyback Regulations

 

Capitalized terms not defined herein shall have the same meaning as assigned to such terms in the Public Announcement to be published