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Zydus Life Board to Consider Share Buyback
14 May
Summary
- Zydus Life's board will meet next week to consider a share buyback.
- This would be the company's third equity share buyback in four years.
- Retail investors hold a 4.8% stake in Zydus Life as of March quarter.
Zydus Lifesciences' board of directors is scheduled to meet next week, with a key agenda item being the consideration of an equity share buyback. This potential move would represent the company's third share repurchase program in the past four years. The company previously conducted buybacks in 2022 and 2024, both executed through the tender offer method.
In 2022, Zydus Life repurchased 1.15 crore equity shares for ₹750 crore at ₹650 per share. More recently, in early 2024, a ₹600 crore buyback saw the repurchase of 59.7 lakh shares at ₹1,005 each. The promoter group actively participated in both these buyback exercises.
Shareholding data from the March quarter reveals that promoters hold a substantial 75% stake. Among public shareholders, Mutual Funds of India possess a 4.88% stake, while the Life Insurance Corporation of India holds 5.56%. Foreign Portfolio Investors have a 6.95% stake, contributing to a limited free float. Notably, 4.01 lakh retail investors collectively own a 4.8% stake.
