BSE Limited (NSEI:BSE) announces a share repurchase program. Under the program, the company will repurchase up to 3,470,370 shares, representing 2.56% of the issued shares capital, for INR 3,748 million. The shares will be purchased at a price of INR 1,080 per share.

The purpose of the offer is to return surplus funds to the shareholders thereby enhancing the overall return to the shareholders, to improve financial ratios like return on equity leading to a long-term increase in shareholder's value and to provide an option to the shareholders to either participate in the buyback and get cash in lieu of their shares or not participate in the buyback and enjoy an increase in their percentage shareholding post the buyback, without additional investment. The shares repurchased will be funded from free reserves of the company, and/or securities premium account of the company and/or any other sources as may be permitted by the SEBI Buyback Regulations or the Companies Act. The repurchase program is subject to approval from shareholders of the company by way of a special resolution.

The company has fixed September 14, 2023, as the record date for the offer. The program is valid till September 27, 2023. As of March 31, 2023, the company had 135,462,891 shares in issue.