Amid the sharp run-up in its share prices, BSE Ltd on Friday announced that it is raising the buyback offer price by more than 32 per cent to Rs 1,080 per share.

This disclosure from the bourse only gave more leg to its rally with its stock hitting a record high on the NSE.

In this process, the scrip rose above the buyback price to end at Rs 1,114.75, a gain of 4.89 per cent, or Rs 52, over the last close. During intra-day trades, the counter zoomed more than 7 per cent to touch a day’s high of Rs 1,138.80.

The BSE said in a regulatory filing that it is revising the buyback price from Rs 816 to Rs 1,080 for an aggregate maximum amount not exceeding Rs 374.80 crore.

The BSE added that the resultant equity shares to be bought back at the revised price are 34,70,370 shares, representing 2.56 per cent of the total number of shares in the total paid-up equity capital of the company as on March 31. It was in July that the board of the bourse had approved a share buyback proposal worth up to Rs 374.80 crore.

This repurchase will be done through the tender route. At the previous price, BSE was planning to repurchase 45,93,137 equity shares, representing 3.39 per cent of its equity as on March 31.

Under a share buyback or repurchase, a firm buys back its own shares from shareholders or the market and these are extinguished later. They are seen as returning surplus cash to shareholders.