New Delhi, Sept 25 (UNI) Hindustan Unilever Ltd (HUL) today said it will buy-back 25 per cent of its equity shares of face value of Re one each from the existing registered shareholders for a price or Rs 230 per share from October 3, 2007.
The buy-back payable in cash will not exceed Rs 630 crores, said a statement.
The maximum number of shares that will be bought back will be 55,16,94,024 being 25 per cent of its 220,67,76,097 shares of Re one each.
There is no specific minimum number of shares that the company proposes to buy-back.
HUL said it will implement the buy-back by way of open market purchases through the BSE and the NSE using their nationwide electronic trading facilities.
The last date of buyback, HUL said, will be September 13, 2008 or when it has completed the buy-back to the extent of Rs 630 crores or on a date as may be determined by the company at anytime even if the maximum limit of buy-back of shares has not been reached.