Indiabulls Real Estate to begin buyback process of equity shares up to Rs 500 crore
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India, March 26 -- Indiabulls Real Estate Ltd has informed the bourses that it will soon begin the buyback process of equity shares worth up to Rs 500 crore.
The company said that the proposed buyback is expected to be completed in the next quarter or in the one after that, depending on the date of the relaxation of the ongoing 21-day lockdown to curb the spread of coronavirus.
Indiabulls is involved in construction and development of residential, commercial and SEZ projects across the major metro cities in the country.
In October last year, Indiabulls Real Estate Limited board approved buyback of up to 5 crore fully paid-up equity shares of a face value of Rs 2 each.
This represented about 11 per cent of its total existing paid-up eq...
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