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Ingersoll fixes floor price for share buy-back

Written by: Staff

Mumbai, Feb 22 (UNI) Ingersoll-Rand announced that the company plans to buy-back its outstanding equity and de-list its shares from the Indian brouses.

According to an Ingersoll release to the BSE, the parent company -- Ingersoll-Rand of Bermuda -- has announced a floor price of Rs 344.95 per share for the buy-back of 82,08,000 equity shares, representing 26 per cent of the equity share capital of Rs 10 each. Subsequent to the buy-back, the shares will be delisted from the bourses.

The bidding for price discovery will be on from March 13-17. The announcement of the discovered price and the acquirers acceptance or non-acceptance of the discovered price will be made on March 21.


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