Patni buys back shares worth Rs 237 cr

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Mumbai, Oct 29 (UNI) Software services provider Patni Computer Systems today said it had bought around 1.09 crore shares worth Rs 237 crore from the open market under its buyback offer.

The company purchased 1.09 crore shares, of face value of Rs two each, at an average buy back price of Rs 216.30, the company infomred the Bombay Stock Exchange (BSE) today.

Patni Computers, whose Rs 237 crore buy back offer opened on July 10, said the offer closed on October 23.

In July, the company had announced its plan to buy back shares in the company from open market at a price not exceeding Rs 325 a share. As of September quarter, the promoters held 46.79 per cent stake in Patni Computers, as per data on the stock exchanges.

Shares of Patni Computers closed at Rs 142.45, with a modest gain of Rs five on the BSE, brokers said.

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