FIIs and DIIs hold 12.19 per cent and 22.75 per cent, respectively, while promoters hold 53.61 per cent of the company.

The company has a market cap of over Rs 5,000 crore and has been maintaining a healthy dividend payout of 80.2 per cent.

The significant move aims to handle debt responsibilities and streamline financial procedures.

The company’s shares have delivered an impressive return of over 2700 per cent in the past decade to its shareholders.

The stock is up by 44.3 per cent from its 52-week low of Rs 4.85 per share and gave multibagger returns of over 380 per cent in 3 years.

Gujarat Narmada Valley Fertilizers and Chemicals Limited (GNFC), a leading fertilizer and chemical producer in India, has announced a mega share buyback of up to 84.78 lakh shares at a price of Rs 770 per share. This represents a significant premium of 14 per cent to the current market price(Rs 676). The buyback will be open to all shareholders, including promoters and members of the promoter group, as of the record date, November 24, 2023.

The stock gave multibagger returns of 800 per cent in 2 years and 5 years it returned over 2,750 per cent.

The shares of the company have generated an impressive return of 170 per cent in the last three years

The company has set the buyback price at Rs 94 per share.

Impressively, the stock has generated a return of 274 per cent in the past three years