Gujarat Ambuja Exports Ltd (GAEL) has launched a buyback offer to its shareholders, for 2.36 crore fully paid-up equity shares of face value Rs. 2 each, at an offer price of Rs. 95. In aggregate this buyback comes to Rs. 225 crore, which the company plans to pay out from its reserves.
GAEL is hoping that the buyback will result in better future returns on invested capital.