Indiabulls Real Estate, leading developer has reportedly bought back 5 crore shares through the open market route. The shares were purchased on an average price of Rs 54.64 valuing the transaction to Rs 273.20 crore. After the buyback, the promoters’ stake in the company has gone up to 44.38% from the earlier 39.70%.
Indiabulls Real Estate is country’s third largest property company. It has various development projects in the residential, commercial, hotels, malls, and Special Economic Zone (SEZ) segments. The company’s projects portfolio includes high-end office and commercial spaces, premium residential developments, integrated townships, luxury resorts and SEZs.