Jenburkt Pharmaceuticals Limited (BSE:524731) announces a share repurchase program. Under the offer, the company will repurchase up to INR 116 million worth of its shares. The shares will be repurchased at a price not exceeding of INR 702 per share.

The company expects to fund the repurchases from the free reserves and/or such other sources as may be permitted. The purpose of the program is to effectively utilize its resources in best possible manner to benefit its shareholders and is expected to achieve the objective of returning surplus funds to the shareholders, improving return on equity through distribution of surplus funds, improving earnings per share by reduction in equity base and increasing shareholders' value in the long term by improving key return ratios. The program is valid till June 13, 2023.

As of December 1, 2022, the company has 4,589,378 issued and outstanding shares.