Matrimony.com Limited, a leading provider of matchmaking services, has announced a significant share buyback program valued at ₹72 crore.

The company's board of directors approved the buyback on Thursday, with plans to repurchase up to 7 lakh equity shares.

This buyback represents 24.85% of the company’s total equity capital based on the latest audited financial statements as of March 31, 2024.

The shares will be repurchased at ₹1,025 each, a notable premium of 26.5% over the matrimonial site’s last trading price of ₹810 per share as of Thursday.

This move is set to be carried out through the “tender offer” route, in compliance with the SEBI (BuyBack of Securities) Regulations, 2018.

The record date for the buyback will be announced in due course, as per the company's regulatory filing.

In adherence to regulatory norms, 15% of the repurchased shares will be allocated for small shareholders.

This decision comes after a previous buyback program initiated in June 2022, where the company had set a buyback price of ₹1,150 per share, with a total offer size of ₹75 crore.

At that time, the plan aimed to repurchase up to 6.5 lakh equity shares, which was 2.85% of the company's total paid-up equity share capital, executed at a 49.21% premium over the then-closing price of ₹770.70.

The company has not yet provided additional details regarding the process or timeline for the postal ballot required to finalize this latest buyback program.