SIS Buyback, June 30 -- SIS Ltd on June 29 said its board has approved, in principle, a proposal to undertake a share buyback of up to Rs.120 crore, marking the company's fifth buyback programme since its listing in August 2017.

Meanwhile, SIS has fixed the maximum buyback price at Rs.478.50 per share, representing a 10% premium to the last closing price of Rs.435. At the ceiling price, the company expects to buy back nearly 25 lakh shares, although the final number of shares purchased may vary depending on the final buyback price. It added that the mode of the buyback and detailed terms and conditions will be finalised after the required approvals.

The proposal is subject to the final approval of the board of directors and shareholders...