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. Continue reading Indiabulls Real Estate – Share Buy-back Offer Closure