Adani Ports and Special Economic Zone Limited has informed the Exchange that the Board of Directors of the Company at its Meeting held on June 04, 2019 has approved the proposal for the buy-back by the Company of up to 3,92,00,000 Equity Shares (being 1.89% of the total paid-up Equity Share Capital of the Company) from the equity shareholders of the Company as on June 21, 2019 (the "Record Date") ("Eligible Shareholders") ("Buy-Back") at a price of Rs. 500 (Rupees Five Hundred Rupees only) per Equity Share (the "Buy-Back Offer Price"), for an aggregate amount not exceeding Rs. 1,960 Crores (Rupees One Thousand Nine Hundred Sixty Crores only), (the "Maximum Buy-Back Size", being 9.94% of the total paid-up Equity Share Capital and free reserves of the Company as per the audited standalone financial statement as at March 31, 2019) from the Eligible Shareholders of the Company on a proportionate basis through Tender Offer route in accordance with the provisions of the Securities and Ex change Board of India (Buy-Back of Securities) Regulations, 2018 (the "Buy-Back Regulations") and the Companies Ac t, 2013 and rules made thereunder. The Maximum Buy-Back Size does not include any expenses incurred or to be incurred for the Buy-Back like filing fee, advisory fee, brokerage public announcement publication expenses, printing and dispatch expenses, taxes and other incidental and related expenses.