The board approved a buyback of equity shares worth up to ₹44.5 crore through the open market route, at a maximum price of ₹750 per share, subject to shareholder approval and other regulatory clearances.
While the buyback size represents 14.87% of the company’s paid-up share capital and free reserves as of June 30, 2026, the actual number of shares proposed to be repurchased is capped at 5.93 lakh shares, equivalent to just 0.46% of the company’s outstanding equity share capital.
The company has also committed to utilise at least 75% of the maximum buyback size, implying a minimum deployment of ₹33.38 crore, which translates into the purchase of at least 4.45 lakh shares if executed at the maximum buyback price.
The board has constituted a dedicated Buyback Committee to oversee the process and delegated powers to complete all necessary formalities. The proposal will now require approval from shareholders through a special resolution, along with applicable statutory and regulatory clearances.
The buyback proposal comes after a mixed June quarter for Tips Music. Revenue rose 21% year-on-year to ₹107 crore, supported by healthy contributions from both digital and non-digital businesses. However, higher investments in content weighed on profitability, with net profit slipping 4.6% to ₹43.7 crore, while EBITDA margin narrowed sharply to 50.3% from 64.2% a year earlier.
Commenting on the quarter, Chairman and Managing Director Kumar Taurani said revenue growth was driven by healthy contributions from both digital and non-digital businesses. He added that the company’s investment in content rose 90% year-on-year, underscoring its strategy of strengthening the music catalogue to support long-term growth.Also Read: VRL Logistics Q1 results: Profit jumps 61%; board approves ₹280 crore buyback
Tips Music owns and monetises one of India’s largest music catalogues across digital streaming, licensing and content platforms, making it one of the country’s leading listed music rights companies.
