Sobha has received an approval to buy back up to 1,458,823 Equity Shares of the Company for an aggregate amount not exceeding Rs 62 crore. The board of directors of the company has given approval for the same at its meeting held on August 04, 2017.
The Buy-back is proposed to be made from all existing shareholders including promoters of the Company on the record date on a proportionate basis under the tender offer route in accordance with the provisions contained in the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998 (‘SEBI Buyback Regulations’) and the Companies Act, 2013 and rules made thereunder, as amended.
Sobha is one of the fastest growing and foremost backward integrated real estate players in the country. It primarily focuses on residential and contractual projects.
