Deccan Chronicle Holdings Ltd, publisher of dailies such as Deccan Chronicle, The Asian Age and Financial Chronicle, today announced a buy-back of shares representing an 18.64% stake in the company at a maximum price of Rs100. On Tuesday, the DC scrip closed at Rs103.55 on the Bombay Stock Exchange.
Promoters now own 63% of the company, it said in a filing to BSE. Post the buy-back, promoters will own not more than 73.51% in the company.
The Buy-back will commence on 12 August.
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