GeeCee Ventures Ltd closed an Equity Buyback in the amount of INR71.84 mm
On January 30, 2012, the company announced that the repurchase program will commence from February 9, 2012 and will end on January 8, 2013, or in case the maximum offer shares have been bought back or maximum offer size has been reached, whichever is earlier. The maximum repurchase offers a premium of approximately 49.51% and 113.47% over the average closing prices of the equity shares on BSE and NSE, as on January 7, 2012. The repurchases will be in accordance with the provisions of Sections 77A, 77AA and 77B of the Companies Act, 1956. As of January 9, 2012, the company has 20,626,543 issued, subscribed and paid-up share capital.
Till June 30, 2012, the company has repurchased 1,138,377 shares, representing 5.52% of the issued capital, for INR 51.45 million. KJMC Global Market (India) Limited acted as a manager for GeeCee Ventures Ltd.
GeeCee Ventures Ltd completed its share repurchase program on January 8, 2013. Under the plan, the company has repurchased 1,600,000 shares, representing 7.76% of the issued capital, for INR 71.84 million.