Indiabulls Housing to consult SEBI for buybacks
Indiabulls Housing Finance will consult the capital-markets regulator, the Securities and Exchange Board of India (Sebi), about its eligibility to buy back shares given the regulations on the ideal capital structure.
“The board thought it prudent to first confirm with Sebi on the applicability of the debt-equity ratio of 6:1 as currently prescribed for a subsidiary NBFC/HFC in the Gazette…,” the company said in a late Monday note to stock exchanges.
The board, which met Monday, advised the company to continue with its policy of paying 50% of profits as dividends, as has been the practise for the past 10 years.
The company is said to be one of the top ten dividend-paying companies in India, having paid Rs 10,530 crore (Rs 271 per share) last 10 years.