BSE Limited has informed the Exchange that the meeting of the Board of Directors of the Company held on May 07, 2019, the Board of Directors has approved a proposal for buyback of fully paid up equity shares of the Company having face value of Rs. 2/- each (Indian Rupees Two only) ("Equity Shares") from the shareholders/ beneficial owners of the Company as on record date which will be decided in due course, on a proportionate basis through the 'Tender Offer' method in accordance with the provisions of Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018 ("SEBI Buyback Regulations") and such other circulars or notifications issued by the Securities and Exchange Board of India, and the Companies Act, 2013 and rules made thereunder, as amended from time to time, at a price of Rs. 680/- per Equity Share (Indian Rupees Six Hundred and Eight only) ("Buyback Offer Price"), payable in cash, for an aggregate maximum amount or Rs. 460 crore (Indian Rupees Four Hundred and Sixty Crore) which excludes any expenses incurred or to be incurred for the Buyback viz., brokerage, costs, fees, turnover charges, taxes such as securities transaction tax and goods and services tax (in any), stamp duty advisors fees, filing fees, printing and dispatch expenses and other incidental and related expenses and charges ("Buyback Offer Size").