It has proposed to buyback up to 16 lakh equity shares, or 2.39% of the paid-up equity capital of the company.
The maximum buyback offer size is ₹40 crore or 18.35% of the paid-up equity share capital and free reserves of the company, it said in an exchange filing.After the buyback, the promoter and promoter group shareholding is likely to increase to 68.9% from the current 67.2%, while the public shareholding is set to decrease to 31.1% from 32.8% at present.
On Tuesday, Jagsonpal Pharma had informed the exchanges of its board meet on Thursday to consider and approve the buyback proposal of the fully-paid up equity shares of face value ₹2 each.
As per data available on BSE, this is the first instance of the company approving a share buyback proposal.Over two decades ago in July 2004, the company had issued bonus shares in the 3:1 proportion, which means shareholders received three free shares for every one that they held as on the record date.
In January last year, it also conducted a stock split, where it divided its shares with face value of into shares shares of face value 2.
Jagsonpal Pharma had declared a final dividend of ₹2.5 in September 2025, prior to which is declared dividends of ₹5 each in September 2004 and August 2023. In 2021, the company declared two dividends of ₹4 and ₹1 in October and September, respectively.
Shares of Jagsonpal Pharma gained gained 12.4% to hit an intraday high of ₹201.5 apiece, after its buyback proposal announcement on Thursday. The stock was up 8.5% at ₹193.85 apiece around 2.20 pm.
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