RITES Ltd. (NSE: RITES, BSE:541556), the leading Transport Infrastructure Consultancy and Engineering firm, reported that its Board of Directors has approved buy-back of96,98,113 equity sharesof face value of Rs 10 each at Rs 265per share, translating into the total buy back amount not exceeding Rs 257 crore.The company was listed in July 2018 and at present 72.02 % shares are held by GoI and balance is with the public& FIs. Commenting on the share repurchase program, Mr. Rajeev Mehrotra, Chairman and Managing Director, RITES Limited, said, “The company has strong financial fundamentals with debt free balance sheet. This repurchase reflects management's confidence in the company and growth in sectors”.
