Matrimony.com Announces Share Buyback Plan Worth Rs 58.5 Crore

Matrimony.com Share Buyback Proposal

Matrimony.com, a leading online matrimony platform, has announced a share buyback proposal worth up to Rs 58.5 crore. The company plans to repurchase up to 8,93,129 fully paid-up equity shares at a buyback price of Rs 655 per share through the tender offer route.

Key Highlights of the Share Buyback

• The share buyback represents 24.68% and 24.81% of the company’s paid-up share capital and free reserves based on the latest audited financials.
• The buyback will be conducted through the tender offer route, with shareholders eligible as per a record date to be announced later.
• 15% of the buyback will be reserved for small shareholders in accordance with SEBI Buyback Regulations.

Impact on Share Price and Promoter Participation

Following the announcement, the stock declined 5.2% intraday to a low of Rs 518.30 on the BSE. The promoters and promoter group, who hold 54.61% of the company’s share capital, have decided not to participate in the buyback.

Next Steps and Timelines

Detailed timelines and procedures will be communicated in due course, according to the regulatory filing shared by the company with the stock exchanges. The board has also authorized the Buy Back Committee to increase the buyback price by one working day before the record date while reducing the number of shares accordingly, subject to compliance with regulations.

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