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Technocraft Industries to buyback shares worth Rs 147 crore

Technocraft Industries (India) has received an approval for buyback proposal for purchase of its own fully paid equity shares of Rs 10 each not exceeding 28,00,000 equity shares at a price not exceeding Rs 525 per equity share for an aggregate amount of Rs 147 crore. The board of directors at its meeting held on November 10, 2017 has approved for the same.

The company will buyback the shares from the shareholders of the company on a proportionate basis through the tender offer route in accordance and consonance with the provisions contained in the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998 and the Companies Act, 2013.

Technocraft Industries (India) is engaged in the manufacturing of drum closures, tubes and scaffoldings, knitted and crocheted cotton fabrics, textile garments, and preparation and spinning of cotton fiber.

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