Shriram Pistons & Rings Limited (NSEI:SHRIPISTON) announces a share repurchase program. Under the program, the company will repurchase up to 350,000 shares, representing 1.56% of its issued share capital for INR 357 million. The shares will be repurchased at a price of INR 1,020 per share. The purpose of the program is to return surplus cash to its shareholders in proportion to their shareholding, thereby enhancing the overall shareholder's value. The program will be funded out of free reserves of the company. The company has fixed August 12, 2021, as the record date for the offer. The plan will be valid until September 30, 2021. As of July 30, 2021, the company has 22,374,912 shares outstanding.