Bajaj Consumer Care Limited (BSE:533229) announces a share repurchase program. Under the program, the company will repurchase up to 5,741,000 shares, representing 4.02% of issued share capital for INR 1,664.9 million. The shares will be repurchased at a price at a price not exceeding INR 290 per share.

The purpose of the program is to return surplus cash to Its shareholders, improving return on equity, by reduction in the equity base, thereby leading to long term increase in shareholders value. The program will be funded out the free reserves of the Company, and securities premium account of the Company and any other source as may be permitted by the SEBI Buyback Regulations or the Companies Act. The Buyback is subject to approval of the shareholders by means of a special resolution through postal ballot.

The program is proposed to be completed within 12 months after passing the special resolution. As of May 3, 2024, the company had 142,793,803 shares outstanding.