Sobha’s board approves buyback of equity shares
DSIJ Intelligence / 05 Aug 2017
The buyback is proposed to be made from all existing shareholders including promoters of the company on the record date on a proportionate basis.
Sobha Ltd. informed on Friday that its Board of Directors has approved a proposal to buyback up to 1,458,823 equity shares of the company for an aggregate amount not exceeding Rs 620,000,000 being 1.5% of the total paid up equity share capital, at Rs 425.
The buyback is proposed to be made from all existing shareholders including promoters of the company on the record date on a proportionate basis. The public announcement related to the process, timelines and other requisite details will be released in due course in accordance with the SEBI buyback regulations.
The stock on Friday closed higher by 0.51% at Rs 386 per share on the BSE. It touched its intraday high and low at Rs 397 and Rs 383.20 per share respectively.
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