Alembic Ltd recently announced that the company's board of directors have approved a resolution to buy-back a minimum of 12,00,000 equity shares at a maximum buy back price of Rs 55 per equity share. The maximum amount of buy back shall be for an amount not exceeding Rs 3,300 lakh, constituting 9.69 per cent of the paid-up capital & free reserves of the company. The board has appointed Edelweiss Capital Ltd as the merchant bankers for the buy-back programme.

The buy-back proposal is being implemented keeping in line with the company's desire to optimise returns to shareholders and enhance overall shareholder value. The buy-back would lead to reduction in outstanding number of equity shares, and consequent increase in earnings per equity share, improvement in return on net worth and other financial ratios. Alembic Ltd is vertically integrated with the ability to develop, manufacture and market pharmaceutical products, pharmaceutical substances and intermediates.