DCW approves ₹40 crore share buyback at up to ₹58 a share
- Capital raise
- Chemicals - Inorganic
Reviewed byRachit TripathiBlacklitt Research
DCW (NSE: DCW) has approved a buyback of its fully paid-up equity shares of face value ₹2 each through the open market, with a maximum aggregate size of ₹40 crore and a maximum price of ₹58 a share, it said in a filing on 31 Oct 2026. The Board approved the plan at its meeting on 29 Oct 2026.
Key highlights
- Maximum buyback size: ₹40 crore, excluding transaction costs
- Maximum price: ₹58 a share against a ₹43.33 NSE close on 29 Oct 2026
- Maximum shares: 68,96,551, or 2.34% of paid-up equity
- Promoters will not participate in the buyback
The buyback in numbers
| Item | Detail |
|---|---|
| Buyback type | Open market, through the stock exchanges |
| Maximum size | ₹40,00,00,000 (₹40 crore), excluding transaction costs |
| Minimum size | ₹30 crore (75% of the maximum) |
| Maximum price | ₹58 per equity share |
| Maximum shares | 68,96,551 shares, 2.34% of paid-up equity as on 30 Sep 2026 |
| Funding | Securities premium, free reserves or other permitted sources, not borrowed funds |
| Registrar | Bigshare Services Private Limited |
| Broker | Ventura Securities Limited |
Size and price of the offer
The maximum size of ₹40 crore is 4.53% of the aggregate of free reserves and paid-up equity capital, based on un-audited standalone accounts as of 30 Sep 2026. The filing sets a minimum of ₹30 crore and requires at least ₹16 crore to be used in the first half of the offer period.
The maximum price of ₹58 is a premium of 21.60% over the BSE six-month volume weighted average price and 21.19% over the NSE figure, measured to 26 Apr 2026. The stock closed at ₹43.48 on BSE and ₹43.33 on NSE on 29 Oct 2026, the trading day before the Board meeting. The company says the buyback will not change its control or management.
Shareholding and the company's position
Promoter and promoter group holdings were 45.59% of total equity on the date of the public announcement and will rise marginally as shares are bought back, the company says. Its undertaking says promoter holdings will be frozen at the ISIN level from 29 Oct 2026 until the offer closes.
DCW reported standalone net profit of ₹10.36 crore on total income of ₹669.98 crore for the quarter ended 30 Sep 2026, down 25.0% on profit and up 23.2% on income from a year earlier. The buyback is set against that backdrop, and the company says it is generally expected to improve return on equity and earnings per share.
What the buyback means for DCW's shareholders
The buyback would reduce the equity base from 59,03,10,034 shares to 57,65,16,933 shares if the maximum is bought, and the company says public shareholding will not fall below 25%. Shareholders other than promoters may tender shares in the open market.
Not stated: the price actually paid, the number of shares bought, the date the offer opens, and the closure date, since the undertaking gives 08 Feb 2026, a date before the announcement. The filing also does not give the expected effect on earnings per share in figures or say whether any shareholder has indicated intent to tender. The offer opens within four working days of the public announcement dated 31 Oct 2026.
Filed with BSE on . Reference: Original filing (PDF)
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