Stock market today: Shares of SIS Limited slumped over 3% on Wednesday, March 26, following the announcement of a share buyback worth ₹150 crore.
The company said that its board at a meeting held yesterday (March 25) considered and approved the proposal for buyback of fully paid-up equity shares of the company having a face value of ₹5 per equity share not exceeding 37,12,871 equity shares, representing 2.57% of the total paid-up capital of the company from all shareholders/beneficial owners of the equity shares of the company, as on the record date.
The share buyback will be done on a proportionate basis through the tender offer route. The company has fixed the share buyback price of ₹404, a premium of 18% over the previous closing price of ₹342.
The record date and the timeline for the share buyback will be decided separately by the company. The buyback is subject to the approval of the shareholders through a special resolution through a postal ballot, the company said.
Prior to this, the company has undertaken buybacks of shares three times during April 2021, August 2022 and December 2023.
Share price impact
Following the share buyback announcement, SIS share price declined 3.5% in intra-day deals today to the day’s low of ₹330. The stock recouped some losses and was last trading at ₹335.95, down 1.77% on the BSE, around 9.50 am.
The small-cap stock‘s performance has been poor in both the short and long-term, with the scrip losing 23.82% in the past one year and 20.52% in the past five years. So far in 2025 as well, SIS stock has fared poorly, shedding over 8%.
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