- Great Eastern Shipping approved Rs 900 crore share buyback at max Rs 1,530 each
- Buyback excludes promoters and promoter group shares, done via open market route
- Maximum buyback of 58.82 lakh shares equals 4.12% of paid-up equity capital
The board of Great Eastern Shipping Company has approved buyback of shares worth Rs 900 crore for an amount not exceeding Rs 1,530 apiece, the company informed in an exchange filing on Thursday, August 25.
The filing read, "Company at its meeting held on August 27, 2026 has, considered and approved the proposal for buyback of fully paidup equity shares of the Company having a face value of Rs 10/- each, from all shareholders/ beneficial owners of the Equity Shares of the Company (other than the promoters and shareholders belonging to the promoter group of the, through the “open market” route."
At the maximum buyback size and price, the indicative maximum number of equity shares to be bought back will be 58,82,352 equity shares, representing 4.12% of the total paid-up equity share capital of the company as of August 27, 2026, less than 25% of the existing paid-up capital.
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The actual number of securities and percentage of the existing paid-up capital bought back shall be determined after completion of the buyback.
As of the latest shareholding data, the promoter and promoter group hold 30.07% stake in the company, with 4.29 crore equity shares. Foreign investors, including FPIs, FIIs, NRIs, foreign banks and overseas corporate bodies, own 29.83% or 4.26 crore shares. Mutual funds, financial institutions, banks, AIFs, NBFCs and insurance companies hold 12.49% stake, equivalent to 1.78 crore shares, while other shareholders, including individuals, corporates and trusts, own the remaining 27.60% or 3.94 crore shares.
Following the buyback, the promoter and promoter group's shareholding is expected to rise to 31.37%, with 4.29 crore equity shares, while public shareholders are expected to hold 68.63%, or 9.39 crore shares. The post-buyback shareholding is based on the indicative maximum number of shares that may be bought back and could vary depending on the actual number of shares repurchased.
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