Claris mulls op­tions to give `2,077 cr to share­hold­ers

Financial Chronicle - - COMPANIES, MONEY & MARKETS -

DRUG firm Claris Life­sciences on Thurs­day said it is con­sid­er­ing op­tions such as div­i­dend or share buy­back to dis­trib­ute around Rs 2,077 crore to its share­hold­ers.

In a reg­u­la­tory fil­ing, Claris Life­sciences said that to­tal cash avail­able with the com­pany is Rs 3,614 crore.

The com­pany's board to­day ap­proved var­i­ous ex­penses and costs ag­gre­gat­ing to Rs 1,537 crore re­lat­ing to var­i­ous trans­ac­tions it had un­der­taken, it added.

After ad­just­ing the ex­penses and costs the net cash that will be avail­able to the com­pany is es­ti­mated to be Rs 2,077 crore, Claris Life­sciences said.

This trans­lates to cash avail­able per share of around Rs 381 with­out con­sid­er­ing any taxes on the pro­posed dis­tri­bu­tion to the share­hold­ers, it added.

"The com­pany is in the process of eval­u­at­ing var­i­ous al­ter­na­tives to dis­trib­ute the net cash to its share­hold­ers in­clud­ing div­i­dend, buy-back etc," Claris Life­sciences said.

Shares of Claris Life­sciences to­day closed at Rs 335.70 on the BSE, down 7.46 per cent from pre­vi­ous close.

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