Jagsonpal Pharma Shares Soar 12% on ₹40 Cr Share Buyback Plan Approval

• Jagsonpal Pharma shares surged over 12% on Thursday, March 12, after its board approved a share buyback plan.
• The company plans to buy back up to 16 lakh equity shares at ₹250 each via a tender offer, totaling ₹40 crore.
• This buyback will increase promoter shareholding from 67.2% to 68.9% and decrease public shareholding.
• This marks the first share buyback for Jagsonpal Pharma, which previously issued bonus shares in 2004 and conducted a stock split last year.
• The stock hit an intraday high of ₹201.5, up 12.4%, following the announcement.