Automobile News

Bosch Share Buyback Offer To Begin On October 6

Bosch Share Buyback Offer To Begin On October 6

New Delhi: Auto components major Bosch on Monday said its offer to buyback 8.78 lakh shares, about 25 per cent of the paid up capital of the firm, for Rs 2,019.76 crore would begin on October 6.

The buyback offer will close on October 21, Bosch Ltd said in a regulatory filing.

In July, the company’s board had approved the buyback of 8,78,160 shares of the face value of Rs 10 each at a price of Rs 23,000 per share aggregating to Rs 2,019.76 crore from the shareholders.

The Bengaluru-based firm is a leading supplier of technology and services in the areas of mobility solutions, industry, consumer goods as well as energy.

The Bosch Group operates in India through nine companies.

It has 14 manufacturing sites and seven development an application centers in the country. The company employs over 29,000 associates.