Cyient Limited announced a buyback of up to 64,00,000 fully paid-up equity shares of face value Rs 5 each at Rs 1,125 per share for an aggregate amount not exceeding Rs 720 crore. The buyback will be executed through the tender offer route on a proportionate basis. The Board of Directors approved the proposal on 23 April 2026, and shareholders granted approval through a special resolution via postal ballot on 10 June 2026.
The record date for determining eligible shareholders is 17 June 2026. The buyback represents up to 5.76% of Cyient's existing fully paid-up equity share capital on a standalone basis. It amounts to 20.31% and 14.09% of the aggregate paid-up share capital and free reserves based on standalone and consolidated financial statements as of 31 March 2026, respectively.
Promoters, members of the promoter group, and persons in control have chosen not to participate in the buyback, increasing the entitlement ratio for other eligible shareholders. A reservation of 15% of the shares proposed to be bought back, or the number of shares entitled to small shareholders holding shares of market value not exceeding Rs 0.02 crore as on the record date, whichever is higher, has been set aside for small shareholders.
Cyient has sought exemptive relief from the U.S. Securities and Exchange Commission on aspects of the tender offer applicable to U.S. shareholders. BSE Limited is the designated stock exchange for facilitating the tender offer. Axis Capital Limited is the manager to the buyback. The public announcement was published in Business Standard (English and Hindi) and Nava Telangana (Telugu) on 12 June 2026.
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.