Categories: Market

Indiabulls Real Estate board clears share buy back scheme worth Rs 624 cr

The board of Indiabulls Real Estate Ltd today approved a buy-back plan for up to 2.6 crore fully paid-up equity shares, amounting to Rs 624 crore.

New Delhi, May 21, 2018: The board of Indiabulls Real Estate Ltd today approved a buy-back plan for up to 2.6 crore fully paid-up equity shares, amounting to Rs 624 crore. “The board of directors of the company, at its meeting held on May 18, 2018, has approved the proposal of buy-back of up to 2.6 crore fully paid-up equity shares of Rs 2 each of the company, being approx. 5.45 percent of existing paid-up share capital of the company,” Indiabulls Real Estate said in a BSE filing.

The board has approved buy-back at prevailing market price on stock exchanges subject to a price not exceeding Rs 240 per equity share, aggregating up to an amount not exceeding Rs 624 crore.

According to the reports published in moneycontrol.com “The maximum buy-back offer price has been arrived at considering market price of the equity shares of the company during the last 6 months,” the company said.

Shares of the company closed at Rs 205.7 a unit, down 2.67 percent from the previous close, on the BSE today.

Recent Posts

Line Investments & Property SP LLC Triumphs with 21Awards at MECS+R MENA 2024

Riyadh, November 07, 2024: Line Investments & Property SP LLC, a prominent subsidiary of LuLu…

18 hours ago

Intellion Offices by Tata Realty & Infrastructure Ltd Posts 60% YoY Growth in GCC Absorption

First half of FY 25 continued with strong GCC demand with 80% contribution in space…

18 hours ago

Champion REIT Recognised as ‘GRESB Global Listed Sector Leader’

- Sustainability Leadership Shines in 'GRESB Real Estate Assessment' and 'GRESB x HERA Standing Investment…

1 day ago

GCCA India joins hands with Xynteo’s Build Ahead coalition to decarbonise India’s construction sector

Mumbai, November 06, 2024: The Global Cement & Concrete Association (GCCA) India and Xynteo announced…

2 days ago

Sohna emerges as new micro-market in Delhi-NCR; set to add 16000+ residential units in 3 years

New Delhi, November 05, 2024: Haryana’s Sohna is emerging as a new micro-market in the…

3 days ago

Neo Developers Pvt Ltd. Appoints Manpreet Kaur as President – Sales

New Delhi, November 04, 2024: Neo Developers, a leading real estate company has announced the…

3 days ago