Exercise its powers, conferred by the Board in relation to the Buyback, hereinafter the “Buyback

exercise its powers, conferred by the Board in relation to the Buyback, hereinafter the “Buyback. Exceeding ₹106.00 Crores (Rupees One Hundred and Six Crores only) (“Maximum Buyback Size”). per Equity Share, payable in cash (the process being referred hereinafter as “Buyback”).

A buyback returns cash by retiring shares, so the benefit to a holder depends on the price paid, how many of their shares are accepted, and what the stub is worth afterwards.

• Record date and acceptance ratio
• Promoter participation
• Cash left on the balance sheet afterwards