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Tuesday, Dec 10, 2002
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 Corporate - Buyback


India Forge plans buyback of 3.75 lakh shares

Our Bureau

MUMBAI, Dec. 9

INDIA Forge and Drop Stampings Ltd has filed a draft letter of offer with the Securities and Exchange Board of India (SEBI) for buyback of shares.

According to a SEBI press release, the lead manager to the offer is Aryaman Financial Services Ltd.

The buyback will be carried out through the tender offer route and is for 3.75 lakh equity shares of a face value of Rs 10 each, representing 10 per cent of the company's equity capital. The offer price is Rs 12 per share.

The specified date for the open offer is December 20.

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