Nippon Life India Trustee has issued a statement stating that there Board of directors have approved the proposal of buy back of equity shares worth Rs 237 crore, per equity share is fixed at Rs. 240. The proposal made will take under the tender offer route and is subjective to the approval of the shareholders.
The public announcement of the process, time period and other necessary details will be issued later on in accordance with the rules and regulations of the buy back agreement.