Multibagger inventory: NAVA Restricted share worth noticed a big soar of 9.42 per cent on Wednesday after the corporate declared buyback of shares at round 25 per cent premium fixing the buyback worth at ₹500. Final month, the corporate had traded inventory break up from ₹2/- to ₹1/-.
The corporate additional knowledgeable that the utmost share buyback price is ₹360 crore.
NAVA share buyback particulars
“The proposal for buyback of as much as 72,00,000 totally paid-up fairness shares of face worth INR 1/- every (“Fairness Shares”) by the Firm (“Buyback”), representing as much as 2.48 % of the whole variety of Fairness Shares of the Firm, at a worth of INR 500.00/- (Rupees 5 Hundred solely) per fairness share payable at money for a complete consideration not exceeding INR Rs. 360.00 crores (Rupees Three Hundred and Sixty Crores solely),” the corporate mentioned in an alternate submitting.
The file date for the buyback of the share has been fastened as February 28, 2025. “It’s additional notified that the Firm has fastened Friday, February 28, 2025, because the file date for the aim of ascertaining the eligibility of shareholders for Buyback of Fairness Shares,” the submitting mentioned.
The corporate additionally knowledgeable that promoters and members of the promoter teams is not going to take part within the buyback. “The Board has famous the intention of the Promoters and members of the Promoter Group of the Firm to not take part within the proposed Purchase Again,” it mentioned.
Anand Rathi Advisors Restricted, a SEBI Registered Service provider Banker, has been appointed because the Supervisor to the Buyback.
In response to the discharge, Nava additionally notified the exchanges that the buying and selling window for the corporate’s shares shall be closed from February 15, 2025, to February 21, 2025 (inclusive). This restriction applies to all designated individuals, their rapid kinfolk, and different linked people lined underneath the Code of Conduct.
NAVA share worth historical past
At 1:07 pm, the NAVA inventory was buying and selling at ₹417.85 on Wednesday’s buying and selling session, in opposition to earlier shut at ₹378.50 on Tuesday.
Nava’s share worth reached a 52-week excessive of ₹673.35 in September 2024 however has skilled a big decline resulting from a broader market downturn.
NAVA inventory has surged a number of instances over the previous two years, climbing from ₹130-135 in February 2023 to its present degree of ₹378. Moreover, during the last 5 years, Nava’s share worth has skyrocketed almost 1,000%, delivering multibagger returns to buyers.
Nonetheless, the inventory has didn’t impress short-term buyers. NAVA share worth has fallen over 4.24 per cent over a month and almost 11.25 per cent within the final six months.
