Cosmo First Limited (BSE:508814) announces a share repurchase program. Under the program, then company will repurchase up to 1,009,345 shares, representing 3.7% for INR 1,080 million worth of its common stock. The shares will be repurchased at a price of INR 1,070 per share.

The purpose of the offer is to return surplus funds to the shareholders, to achieve an optimal capital structure, to improve return on equity and other financial ratios like earnings per share, return on capital employed, thereby leading to long term increase in shareholder?s value and to provide an option to the shareholders to either participate in the buyback and get cash in lieu of their shares or not participate in the buyback and enjoy an increase in their percentage shareholding post the buyback, without additional investment. The offer will be funded from company's free reserves, and/or securities premium account and/or other sources as permitted by the law. The repurchased shares will be compulsorily extinguished and will not be held for reissuance.

The company has set December 14, 2022, as the record date for the offer. The program is valid till February 09, 2023. As of November 25, 2022, the company had 27,259,072 shares outstanding.