The Pidilites board of directors has approved a buy-back proposal of equity shares not exceeding 5 million at the price of Rs 1,000 per share, an India Infoline report said today. The stocks of the company touched its all-time high of Rs 972 and closed at Rs 926. The buy-back offer is just for 0.975% of the total paid-up equity capital of the Company. The company has negligible debt on its book and had current investments and cash of Rs 1,487cr and Rs 152cr, respectively, as on 1HFY18. Buy-back at Rs 1,000 per share can garner Rs 500 crore. Pidilite is the largest adhesive player in India, with its iconic brand Fevicol. Recently, Wipro too closed a Rs 5,700-crore share buy-back offer.