Further to intimation dated October 08, 2019 and in terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, Indiabulls Ventures has informed that the Board of Directors of the Company at its meeting held on October 11, 2019 (which commenced at 10:00 am and got concluded at 10:35 am) 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% of its total existing fully paid-up equity capital (Equity Shares) at Rs 150 per Equity Share, through the ‘Tender Offer’ route, as prescribed under SEBI (Buy-Back of Securities) Regulations, 2018 (Buyback Regulations) and the Companies Act, 2013 and rules made thereunder, as amended.
The above information is a part of company’s filings submitted to BSE.
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