Orbit Exports Limited (BSE:512626) announces a share repurchase program. Under the program, the company will repurchase up to 408,163 shares, representing 1.49% of its issued share capital for INR 100 million. The shares will be repurchased at a price not exceeding INR 245 per share.

The purpose of the program is to return surplus funds to its equity shareholders thereby enhancing overall return to the shareholders and to provide an option to the shareholders to either participate in the buyback and get cash in lieu of their shares or not participate in the buyback and enjoy an increase in their percentage shareholding post the buyback, without additional investment. The program will be funded from the company's free reserves and/or retained earnings and/or current surplus and/or cash and cash equivalents and/or internal accruals and/or liquid resources and/or other sources permitted by the law. The company fixed November 18, 2022, as the record date for the offer.

The offer will expire on December 28, 2022. As of September 30, 2022, the company had 27,383,065 shares in issue.