Company Profile

Buy Back of Shares The Board of Directors at its meeting held on November 04, 2020, has approved a proposal to buy-back upto 10 Crore equity shares of the Company for an aggregate amount not exceeding, 2500 Crore being 6.56% of the total paid up equity share capital at a price not exceeding, 250 per equity share: n furtherance of our intimation letter dated October 29, 2020, the proposal for buyback of the Company's Equity Shares, for an aggregate amount not exceeding ~2 500 Crore (Indian Rupees Two Thousand Five Hundred Crore Only) excluding any expenses incurred or to be incurred for the Buyback viz. brokerage, costs, fees , turnover charges, taxes such as buyback tax, securities transaction tax, goods and services tax (if any) and income tax, stamp duty, advisors fees, printing expenses, filing fees and other incidental and related expenses and charges ("Maximum Buyback Size") and at a price not exceeding ~250 (Indian Rupees Two Hundred Fifty Only) per Equity Share ("Maximum Buyback Price"), payable in cash, from its shareholders / beneficial owners (other than those who are promoters or persons in control), from the open market through stock exchange mechanism i.e. using the electronic trading facilities of the stock exchanges where the equity shares of the Company are listed i.e., National Stock Exchange of India Limited and BSE Limited, in accordance with the provisions of the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended ("SEBI Buyback Regulations") and the Companies Act, 2013 and the rules made thereunder, each as amended from time to time ("Companies Act") (the process being referred hereinafter as "Buyback"). The indicative maximum number of Equity Shares proposed to be bought back at the Maximum Buyback Size and Maximum Buyback Price under the Buyback would be 1 0,00,00,000 (Ten Crore Only) Equity Shares ("Maximum Buyback Shares") (representing 6.56% which is less than 25% of the total number of Equity Shares in the existing paid up equity capital of the Company). If the Equity Shares am bought back at a price below the Maximum Buyback Price, the 3ctu31 number of Equity Sharoe bought back could oxcoed tho indioativo MOl(imum BuyBool( ?horoo (ooouming filII dOflloymont of tho MQl(imllm BllyBool( ?ii!o) hilt will always be subject to the Maximum BuyBack Size and will also be not more tlian 25% of 1I'le total number of Equity Shares in the existing paid up equity capital of the Company. The Maximum Buyback Size represents 8.71 % and 8.11 % of the aggregate of the total paid-up capital and free reserves of the Company based on the audited standalone and consolidated financial statements of the Company as at March 31 , 2020, respectively (being the latest available audited financial statements of the Company), which is less than 10% of the total paid-up capital and free reserves of the Company and in accordance with the proviso to Regulation 5(i)(b) of the SEBI Buyback Regulations and Section 68(2)(b) of the Companies Act. The Board has also constituted a committee for the purposes of the Buyback (the "Buyback Committee") and has delegated its powers to the Buyback Committee to do or cause to be done all such acts, deeds, matters and things, in its discretion, deem necessary in connection with the Buyback.