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