Indiabulls Real Estate Ltd’s board has approved a share buyback plan, for up to 2.6 crore fully paid-up equity shares, amounting to Rs.624 crore.

In a BSE filing the company said, “The board of directors of the company, at its meeting held on May 18, 2018, has approved the proposal of buy-back of up to 2.6 crore fully paid-up equity shares of Rs.2 each of the company, being approx 5.45% of existing paid-up share capital of the company.

Further it stated that, the maximum price for the buyback has been arrived at, after considering market price of the equity shares of the company during the last 6 months and not exceeding Rs.240 per equity share.

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