Indiabulls Ventures announces buyback of Rs. 1000 crores

Indiabulls Ventures Limited on Friday informed the exchanges on Friday that the board of directors have approved the buyback of Rs. 1000 crores of up to 6,66,66,666 fully paid-up equity shares.

In the press release, the company stated that the board of directors of Indiabulls Ventures Limited at its meeting has approved a proposal of Rs. 1,000 crores of buyback of upto 6,66,66,666 fully paid-up equity shares having face value Rs. 2 each of the company, representing 12.61 per cent of its total existing fully paid- up equity capital at Rs. 150 per equity shares through the tender offer route, as prescribe under SEBI regulations, 2018 and companies act 2013 and rules made there under, as amended.

Indiabulls Ventures Limited is one of India’s leading capital market companies providing securities and derivative broking services. Indiabulls Ventures Limited provides equity trading, derivative trading, commodity trading, currency trading, mutual Funds, IPO and fixed income products to customers. The company is having offices in more than 124 cities and has a subsidiary called Indiabulls Consumer Finance Limited.

On Friday, the stock of Indiabulls Venture Limited opened at Rs. 100.10 per share and made an intraday high and low of Rs. 108.50 and Rs. 99.10, respectively on the BSE. The stock closed at Rs. 106.00, up by 6.43 per cent.