Indian real estate company Indiabulls ended their buyback offer after purchasing 2.6 crores shares for the cost of Rs 443 crores. Earlier this year in May, the company announced buyback offer to purchase up to 26 million fully paid up equity shares of Rs. 2 each at the current market price at stock exchange not more than Rs. 240 per share for an amount not surpassing Rs. 624 crores.
The buyback, excluding the promoters and the promoter group of the company, was from all the shareholders of the company from open market through stock exchanges. In the regulatory filing, the company said that board constituted committee reviewed the present status of funds utilized and the number of shares bought back by the company under its ongoing buyback offer.
The company also reported their first quarterly results for the financial year of 2019 with a 5.3% fall in net consolidated PAT (Profit After Tax) at Rs. 117.5 crores after a 38.4% rise in revenue from operation at Rs. 811 crores.