The Board of Responsive Industries has approved proposal for purchase of its own fully paid equity shares of Rs. 1 each (Equity Share) not exceeding 2,07,50,000 Equity Shares (being 7.77% of the total paid-up equity capital of the Company as on 30 September 2018) at a price of Rs.77 per Equity Share, for an aggregate amount of up to Rs. 159.77 crore excluding transaction costs viz. brokerBBUUage, applicable taxes such as securities transaction tax, service tax, stamp duty, etc.), being 24.73% of the total paid-up equity capital and free reserves of the Company as on 30 September 20 I 8 (hereinafter referred to as the Buyback) from theshareholders of the Company on a proportionate basis through the tender offer route.