Indiabulls Real Estate has bought back five crore equity shares shareholders through the open market, which is 83.33% of the total offer. Total amount invested in the buyback is Rs 273.20 crore, including brokerage and taxes.
The company has bought the same at an average price of Rs 54.64 per share. Post buyback, the promoters’ stake in the company has increased to 44.38% from the earlier 39.70%.
Earlier, the company had announced the buyback of up to six crore equity shares of Rs 2 each from the existing shareholders from the open market.
Indiabulls Real Estate projects portfolio includes high-end office and commercial spaces, premium residential developments, integrated townships, luxury resorts and SEZs. The company has projects with total land area in excess of 10000 acres.
