Aurobindo Pharma Sets Rs 800 Crore Buyback at Rs 1,475/Share

Pharmaceutical major Aurobindo Pharma has approved a tender offer to buy back shares worth Rs 800 crore, marking its first such initiative in two years. The company will repurchase over 54 lakh equity shares at a price of Rs 1,475 per share. This offer is open to shareholders of record as of April 16, 2024. The buyback represents a strategic capital allocation move by the company. Despite recent volatility in the broader market, Aurobindo Pharma's stock has demonstrated relative strength, gaining ground during the period.