Jagran Prakashan Board approves buyback offer

The Board of Directors at Jagran Prakashan has unanimously approved a buyback proposal for upto 1.55 crore fully paid up equity shares, representing 4.74% of the company's total outstanding equity shares.

The buyback price is Rs. 190, for a total buyback amount of Rs. 302.25 crores. The company intends to make the offer to shareholders on a proportionate basis, and through the tender offer route.