Matrimony.com approves ₹58.50 Cr share buyback; stock falls 5%

• Matrimony.com's board approved a ₹58.50 crore share buyback.
• The company will repurchase 8,93,129 equity shares at ₹655 per share via a tender offer.
• This marks the third share buyback by Matrimony.com in the last three years.
• Following the announcement, Matrimony.com's stock declined by approximately 5% on Monday.

Why It Matters: Matrimony.com's buyback aims to boost value, yet its stock fell, affecting investor sentiment.