The board of Chambal Fertilisers & Chemicals on Monday approved buy back of fully paid-up equity shares of face value of Rs. 10 each, not exceeding 1,55,55,555 shares at a price of Rs. 450 per equity share for Rs. 700 crore.

The promoters and promoter group of the company have expressed their intention to tender shares under the buyback offer.

The board fixed January 18, 2024 as the 'Record Date' for determining entitlement and names of the eligible shareholders/beneficial owners to whom the letter of offer will be sent, and who will be eligible to participate in the buyback.