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Our Bureau

Mumbai , Sept 25

ICI India Ltd has announced a buyback plan of its fully paid-up equity shares of the face value Rs 10 each at a price not exceeding Rs 350 per share.

The buyback of 37.49 lakh , representing 9.17 per cent of the outstanding fully paid-up equity shares of the company, will cost Rs 131.23 crore.

It will open on September 29, 2006 and close on September 13, 2007.

The buyback will be by way of open market purchases on the BSE and NSE.

On Monday, the company shares traded at Rs 338.70, down 1.66 per cent, on BSE.

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