Jullundur Motor Agency (Delhi) Limited (NSEI:JMA) announces a share repurchase program. Under the program, the company will repurchase up to 7,450,000 shares, representing 24.98% of its issued share capital, for total worth of INR 268.2 million. The shares will be repurchased at a price of INR 36 per share. The program will be funded from company's current surplus and/or cash balances and/or internal accruals. The purpose of the share repurchases is to return surplus funds to its equity shareholders, to distribute surplus cash to its shareholders and to enhance the overall return to shareholders. The program is subjected to approval of members and shareholders by the way of special resolution through postal ballot. The company announced that it has fixed the record date as December 24, 2020, for the purpose of this offer. The offer will expire on February 8, 2021. As of October 30, 2020, the company had 29,818,050 shares are issued and outstanding.