Cyient Limited (BSE:532175) announces a share repurchase program. Under the program, the company will repurchase up to 6,400,000 shares for INR 7,200 million. The shares will be repurchased at INR 1,125 per share.
The program is subject to approval from shareholders at the postal ballot.
Cyient Limited is an India-based company, which delivers intelligent engineering solutions across products, plants, and networks for global customers. Its segments include Digital, Engineering & Technology (DET); Design Led Manufacturing (DLM); Semiconductors, and Others. The DET segment consists of its business of engineering solutions across multiple industries, including transportation and mobility (such as aerospace, rail and automotive), networks and infrastructure (such as connectivity and utilities) and strategic units (such as mining and minerals, energy, healthcare and life sciences). The DLM segment consists of its business of electronics manufacturing services. The Semiconductors segment consists of its business of design, development and supply chain management of semiconductor chips. Others segment consists of its other business operations, which include the aerospace tooling division. Its products include Industry AI Advisor Platform, Coddy, CYFAST, CYTEXT and others.
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