SRF Ltd: Board approves Buy-back of equity shares

SRF Ltd has informed BSE that the Board of Directors of the Company at its meeting held on February 26, 2011 has approved:

1. Buy-back through open market route (stock exchange route).

2. Buy-back at a price not exceeding Rs. 380/- per equity share.

3. The proposed Buy-back could absorb a maximum of Rs. 90.00 Crores which is less than 10% of the paid up capital and free reserves of the Company as on March 31, 2010.

The actual number of shares bought back would depend upon the average price paid for the shares bought back and the actual amount deployed in the Buy-back, subject to the limit specified in point no. 3 above.