New Delhi, June 30 -- Bajaj Auto on Monday, June 29, announced that its Rs.5,632.8 crore share buyback will open on Wednesday, July 1, and will close on Tuesday, July 7.

Bajaj Auto share price surged as much as 1.06% to Rs.9,732 apiece on NSE on Tuesday, ahead of buyback opening.

Bajaj Auto has announced a share buyback worth up to Rs.5,633 crore, proposing to repurchase shares from eligible shareholders at Rs.12,000 apiece, according to its exchange filing.

Under the buyback, the company plans to acquire up to 46.94 lakh equity shares, representing nearly 1.68% of its total paid-up equity share capital. The buyback is being undertaken through the tender offer route.

The board approved the repurchase of up to 46.94 lakh fully paid-up ...