SIS Limited (NSEI:SIS) announces a share repurchase program. Under the program, the company will repurchase up to 1,636,363 shares, representing 1.12% for INR 900 million. The shares will be repurchased at a purchase price of INR 550 per share.

The repurchases will be funded out of Company?s current balances of cash and cash equivalents, current investments, and/or internal accruals of the Company (and not from any borrowed funds), whether secured or unsecured, of any form and nature, and such other sources or by such mechanisms as may be permitted by applicable law. The purpose of the offer is to optimize returns to shareholders; benefit public shareholders who would get classified as ?small shareholder; enhance overall shareholders value and optimize the capital structure; The company has fixed December 12, 2023, as the record date for the offer. The offer is valid till December 22, 2023.

As of November 24, 2023, the company had 145,736,753 shares in issue.