Shardul Amarchand Mangaldas advises Bajaj Auto Limited on the strategic Buyback of its fully paid-up equity shares

March 28, 2024

Shardul Amarchand Mangaldas & Co. advised Bajaj Auto Limited in executing a strategic Buyback of up to 40,00,000 fully paid-up equity shares, valued at ₹10,000 each, from equity shareholders on a proportionate basis by way of the “Tender Offer” route as prescribed under the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018.

The Buyback offer price represented a premium of 50.09% and 50.04% over the closing price of the equity share on BSE and NSE, respectively, as on the day preceding the date of intimation of board meeting (2 January 2024) to approve the Buyback.

SAM&Co. team was led by Shardul Shroff, Executive Chairman; Yogesh Chande, Partner; Preeti Kapany, Senior Associate; Debanik Bid, Senior Associate and Shweta Ojha, Associate. Special recognition to Manan Mehta, Partner for inputs on FEMA.

JM Financial Limited and KFin Technologies Limited acted as the managers and registrars to the Buyback, respectively.