New Delhi, Nov. 20 -- Fairchem Organics, engaged in the manufacturing of specialty chemicals, said in a regulatory filing today that its board of directors has approved a proposal to buy back fully paid-up equity shares of face value Rs.10 each of the company.

Number of Securities Proposed for the Buyback: The company proposes to buy back up to 4,25,000 equity shares, representing up to 3.26% of the total number of equity shares in the existing total paid-up equity share capital of the company (on a standalone basis).

Buyback Price: The company has set the buyback price at Rs.800 per equity share, payable in cash, for an amount aggregating up to Rs.34 crore.

The price indicates a 15% premium to the stock's latest closing price of Rs.69...