Suraj Limited (BSE:531638) announces a share repurchase program. Under the program, the company will repurchase up to 900,000 shares, representing 4.67% for INR 69.3 million. The shares will be repurchased at a price of INR 77 per share.

The purpose of the program is to distribute a part of the surplus cash to its shareholders holding equity shares thereby, optimizing returns to the shareholders and enhancing the overall shareholders' value in longer term and improving the return on equity. The funds for the implementation of the proposed Buyback will be sourced out of the securities premium of the Company and/or such other sources as may be permitted by law. The company has fixed August 20, 2022, as the record date for the program.

The repurchase program will be valid till September 27, 2022. As of June 30, 2022, the company had 19,264,100 shares.