Commercial vehicles manufacturer Eicher Motors clarified that the buy-back of its shares announced on Oct.30, 2008 would be at a fixed price of Rs 691.68 for each equity share instead of the earlier quoted statement`at a price not exceeding Rs 691.68` by the company.
The board of directors of the company had announced a buy back offer on Oct.30, 2008 through tender offer route which was resultant of the request of s promoters and principal shareholders, Eicher Goodearth Investments.
The buy-back would continue to be in the same proportion as sale of promoter holding to global auto major Volvo (ratio of promoter shares sold to Volvo to the total holding of shares by promoter) as disclosed earlier by the company.
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