Indiabulls Real Estate – Share Buy-back Offer Closure

Karvy Investor Services Ltd (“Manager to the Buyback”) on behalf of Indiabulls Real Estate Ltd (“Target Company”) has informed this Post Buy-back Public Announcement to the Shareholders / Beneficial Owners of equity shares of the Target Company in compliance with the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 1998 and subsequent amendments thereto.

A. The Buy-back
The Target Company had announced the buyback (“the Buyback”) of fully paid up equity shares (“Shares”) of Rs. 2/- each of the Company, not exceeding 6,00,00,000 equity shares, from the existing owners/ beneficial owners of equity shares from the open market through stock exchanges using electronic trading facilities of BSE Ltd (“BSE”) and the National Stock Exchange of India Ltd (“NSE”) in accordance with Section 77A, 77AAand 77B of the Companies Act. 1956 and SEBI (Buyback of Securities) Regulations, 1998 at a price not exceeding Rs. 75/- per share payable in cash for an aggregate amount not exceeding Rs. 450.00 crores (Rupees Four Hundred and Fifty Crores Only). A Public Announcement to public/shareholders (“PA”) was issued / published on December 24, 2011 and a Corrigendum to the Public Announcement was issued / published on April 24, 2012. The Buyback Offer had opened on April 30, 2012 and closed on December 14, 2012.

B. Details of the Buy-back:

Total number of shares bought back under the Buyback is 5,00,00,000 equity shares, which is 83.33%of the total buyback offer quantity of 6,00,00,000 equity shares.

Total amount invested in the Buyback is Rs. 273,20,38,862.08 (Rupees Two Hundred & Seventy-Three Crores Twenty Lakhs Thirty-Eight Thousand Eight Hundred & Sixty-Two and paisa Eight only) including brokerage and taxes.

The price at which the shares were bought back was dependent on the price quoted on BSE and NSE. The highest price at which shares were bought back was Rs. 63.00 per share on BSE and Rs. 63.00 per share on NSE while the lowest price was Rs. 41.95 per share on BSE and Rs. 42.00 per share on NSE. Overall the Equity Shares were bought back at an average price of Rs. 54.64 per share.

As the offer for the Buyback of shares was from the open market through stock exchanges, the identity of shareholders from whom shares exceeding 1% of total shares bought in buyback is not known.

All equity shares bought back were extinguished.

C. Capital Structure:

The capital structure of the Company, pre and post Buyback, is as under:

Authorised Capital:

Before the Buy-back: 50,00,00,000 equity shares of Rs. 2/- each and 3,00,00,000 preference shares of Rs. 138/- each
After the Buy-back: 50,00,00,000 equity shares of Rs. 2/- each and 3,00,00,000 preference shares of Rs. 138/- each

Issued, Subscribed and Paid-up Capital:

Before the Opening of Buy-back: 47,40,10,739 equity shares of Rs. 2/- each fully paid-up
After the Buy-back: 42,40,10,739 equity shares of Rs. 2/- each fully paid-up

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