Bajaj Auto has secured the necessary shareholder and board approvals to execute a share repurchase program valued at up to ₹5,632.80 crore.
The company submitted the relevant resolutions to the Bombay Stock Exchange and the National Stock Exchange on Monday, confirming the buyback price of ₹12,000 per share for up to 4.69 million fully paid-up equity shares.
The move represents a significant commitment to returning capital to investors through a tender offer.
By locking in the buyback price at ₹12,000, the company provides a clear valuation floor for participating shareholders, enhancing the attractiveness of the offer relative to prevailing market levels.
Shares of Bajaj Auto responded positively to the news, climbing as much as 2.52% to ₹2,649 on the National Stock Exchange.
The rally was driven by the approaching record date for the repurchase program, which has been a key catalyst for investor sentiment in recent sessions.