INSUBCONTINENT EXCLUSIVE:
MUMBAI: Realty developer Indiabulls Real Estate has approved the proposal to buy-back up to 2.6 crore equity shares of the company
aggregating up to Rs 624 crore
The maximum size of the buy-back is around 5.45% of existing paid-up share capital of the company, the developer said in a regulatory
filing.
The maximum offer price for the proposed buy back will be prevailing market price on stock exchanges subject to a price not
exceeding Rs 240 per equity share
will make the balance sheet of the company leaner by reduction in the overall capital employed in its business, which in turn will lead to
down 2.67% over previous close,
The public announcement setting out the process, timelines and other statutory details will be released in
due course in accordance with the buyback regulations.
