Our Markets Bureau

Mumbai, June 11: Jayshree Tea and Industries Ltd has announced a buyback offer at Rs 75 per share of Rs 10 each from the open market. This is at a 27 per cent premium over the current market price of Rs 59 at the close on Monday on the BSE.

As per the special resolution passed by the company, maximum consideration paybale could be Rs 8.3 crore. The offer would be open from June 4, 2001 to March 30, 2002.

At the maximum offer price of Rs 75 per share, the company would be in a position to buy 11.06 lakh shares. On the NSE closing price of Rs 58 on Monday, the offer is at 29.31 per cent premium.

The buyback offer would be made through SBI Capital Markets and Dalmia Securities Ltd, the company said.