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KPR Mills withdraws share buyback plan due to tax proposal in Budget, stock falls 6%

Updated : July 12, 2019 11:21 AM IST

The company, in June, had proposed to buy back up to 37,50,784 shares at a price of Rs 702 per share for an aggregate amount of Rs 263.3 crore.
The government, in the Union Budget 2019, which was presented by finance minister Nirmala Sitharaman, had proposed to levy a buyback tax of 20 percent on listed companies.
KPR Mills withdraws share buyback plan due to tax proposal in Budget, stock falls 6%
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