Global Pet Industries' Board has approved a buyback of up to 8,47,500 equity shares at a price of ₹160 per share.

The total buyback size is ₹13.56 Cr, representing 7.19% of the company's total equity and 24.55% of its paid-up capital and free reserves.

The buyback will be conducted via a tender offer.

Importantly, promoters have stated they will not participate.

The record date and detailed timeline will be announced in due course.