Sun Pharmaceutical Industries Limited has informed the Exchange that the Board of Directors of the Company, at its meeting held on March 17, 2020, has, inter alia, approved the buy-back by the Company of its equity shares of face value of Re. 1 /- each ( Equity Shares) from the Open Market through stock exchange mechanism as prescribed under the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018 (Buy-back Regulations) at a maximum price of Rs. 425 /- (Rupees Four Hundred Twenty Five Only) per Equity Share (Maximum Buy-back Price) payable in cash, for an aggregate maximum amount of up to Rs. 1700,00,00,000/- (Rupees One Thousand Seven Hundred Crores Only) excluding transaction costs viz. brokerage, advisor's fees, intermediaries fees, public announcement publication fees, filing fees, turnover charges, applicable taxes such dS securities transaction tax, goods and services tax, income tax, stamp duty and other incidental and related expenses ("Transaction Costs") (Maximum Buy-back Size), which represents 9 .83% and 4.44% of the total paid-up Equity Share capital and free reserves (including Securities Premium Account) as per the latest audited standalone financial statements and audited consolidated financial statements, respectively of the Company for the financial year ended March 3 I, 2019, from the equity shareholders/beneficial owners of Equity Shares of the Company, except Promoter(s), members of Promoter Group and Persons acting in concert ( Buy-back).