Cyient Limited has submitted certified copies of board and shareholder resolutions to stock exchanges for its buyback of up to 64,00,000 equity shares. The buyback price is Rs 1,125 per share, for an aggregate amount of Rs 720 crore. The board approved the buyback on 23 April 2026, and shareholders passed a special resolution through postal ballot on 10 June 2026.
The buyback represents 5.76 percent of the existing fully paid-up equity share capital of Cyient. Each equity share has a face value of Rs 5. The buyback will be undertaken through the tender offer route on a proportionate basis, facilitated through BSE and NSE.
All equity shareholders except promoters and promoter group members as on the record date will be eligible to participate. Fifteen percent of the buyback size has been reserved for small shareholders, as prescribed under buyback regulations. Shares not tendered by small shareholders will be adjusted in the general category.
Cyient will fund the buyback from its current surplus, cash balances, and internal accruals. The buyback size represents 20.31 percent and 14.09 percent of the aggregate paid-up share capital and free reserves on a standalone and consolidated basis, respectively, based on financial statements as of 31 March 2026.
A buyback committee has been constituted comprising independent directors Sunil Bhumralkar, P R Ramesh, and Madan Pillutla, along with Chief Financial Officer Shrinivas Kulkarni and Company Secretary Sudheendhra Putty. The committee is authorised to handle regulatory approvals, determine the record date, decide the entitlement ratio, and engage with stock exchanges and intermediaries.
Disclaimer: This article is based on company filings submitted to the Bombay Stock Exchange (BSE) and National Stock Exchange of India (NSE) and is for informational purposes only. It does not constitute investment advice or a recommendation. Investors should conduct their own research and consult a qualified financial advisor before making investment decisions.