Steel maker Monnet Ispat on Friday said it would buy back shares worth up to INR 100 crore from the open market at a price not exceeding INR 500 apiece.

The company in a filing to the BSE said that "The buy back of fully paid equity shares will be from the open market through the stock exchanges at a price not exceeding INR 500 per share, up to a maximum amount of INR 100 crore, being 4.97% of the total paid up capital.”

Monnet Ispat said its board cleared the buyback proposal at a meeting on December 22.

(Sourced from FE)