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• Annual Report 2018-19
Shaping the future of software driven business
The indicative maximum number of Equity Shares bought back at the above maximum price would be 3,000,000. If the
Equity Shares are bought back at a price below the Maximum Buyback Price of
`
750, the actual number of equity shares
bought back could exceed the above indicative Maximum Buyback quantity but will always be subject to the Maximum
Buyback Size.
The Buyback shall be from the open market purchases through the stock exchanges, by the order matching mechanism
except ‘all or none’ order matching system, as provided under the Buyback Regulations.
The Parent Company will fund the buyback from its securities premium account, free reserves and/or such other source
as may be permitted.
The buyback of equity shares through the stock exchanges commenced on February 8, 2019 and is expected to be
completed by August 7, 2019 or reaching the Maximum Buyback Size, whichever is earlier.
During the period from February 8, 2019 to March 31, 2019, 881,098 equity shares were purchased from the stock
exchanges as follows: (a) 368,851 Equity Shares which have been purchased and extinguished as of March 31, 2019; (b)
447,981 Equity hares which have been purchased but not extinguished as of March 31, 2019; and (c) 64,266 shares which
have been purchased but have not been settled and therefore not extinguished as of March 31, 2019. The Parent Company
has completed the extinguishment of remaining Equity Shares of 512,247 on April 9, 2019.
Consequently, the paid-up capital of the Group has been reduced from
`
800.00 million to
`
791.19 million comprising of
79,118,902 Equity Shares of
`
10 each.
e) Details of shareholders holding more than 5% shares in the Group
Name of the shareholder*
As at March 31, 2019
As at March 31, 2018
No. in million
% Holding
No. in million
% Holding
Dr. Anand Deshpande jointly with
Mrs. Sonali Anand Deshpande
22.95
29.01
22.93
28.66
* The shareholding information is based on legal ownership of shares and has been extracted from the records of the
Group including register of shareholders / members.
This space is intentionally kept blank
Notes forming part of consolidated financial statements (Contd.)