Rs 5.99 Crore Buyback: Software Technology Company Board Approves Buyback of 4.6 Lakh Shares; Stock Jumped over 4 .5 Per Cent - Details Inside!
In the last 1 week, the stock price has gained 21 per cent,t while in the last month it has soared by 41 per cent. From its 52-week low, it is up by 58 per cent.
Paramatrix Technologies Limited announced on April 18, 2025, that its Board of Directors has approved a buyback proposal. The company plans to buy back up to 4,60,800 of its fully paid-up equity shares. The face value of each equity share is Rupees 10. This buyback represents 5.27 per cent of the total issued and paid-up equity share capital as of March 31, 2024.
The buyback price has been set at Rupees 130 per equity share. The total aggregate amount for the buyback will not exceed Rupees 5,99,04,000. This amount excludes expenses related to the buyback, such as fees payable to the Securities and Exchange Board of India (SEBI), advisor fees, publication expenses, and transaction costs.
The buyback size represents 23.09 per cent and 20.22 per cent of the fully paid-up equity share capital and free reserves, respectively, according to the company's audited financial statements for the fiscal year ending March 31, 2024. The funds for the buyback will come from the company's free reserves and securities premium, and any other sources as permitted by regulations. The buyback will be conducted via a "Tender Offer" from the shareholders as of the record date. The Promoters of the Company will not be participating in the Buy-Back Offer.
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Paramatrix Technologies (Paramatrix) is a dynamic and technology-driven company specialising in IT solutions, custom software development, and innovative product offerings. Established in 2004, the Company has steadily built a reputation for delivering solutions tailored to meet the unique needs of clients across diverse industries. With a strong focus on quality, customer satisfaction, and technological advancement, Paramatrix offers a comprehensive portfolio that includes enterprise software, digital transformation solutions, and proprietary products. Paramatrix’s key products include cutting-edge applications designed for enhanced operational efficiency, such as its flagship solutions for data management, automation, and analytics. These products have been widely adopted across industries and are recognised for their scalability and user-centric design. In the last 1 week, the stock price has gained 21 per cent,t while in the last month it has soared by 41 per cent. From its 52-week low, it is up by 58 per cent. The company has been maintaining a healthy dividend payout of 40.3 per cent.
Operating with a mission to empower businesses through technology, the Company serves a wide array of industries, including finance, banking, insurance, healthcare, and education. Its commitment to innovation and excellence has positioned it as a trusted partner for organisations aiming to achieve sustainable growth and operational efficiency. In FY24, the company reported Total Income of Rs 28.60 crore, EBITDA of Rs 5.65 crore, and Profit After Tax of Rs 4.13 crore.
Disclaimer: The article is for informational purposes only and not investment advice.