Sobha buys back its shares
Real estate firm Sobha on Monday said it has bought back 17.59 lakh shares of the company from existing shareholders for Rs 58 crore. In May, the company’s board had approved buyback of up to 22.75 lakh shares for about Rs 75 crore.
The company has bought back 17,59,192 equity shares of the company for an aggregate amount not exceeding Rs 58,05,33,360 being 1.79 per cent of the total paid up equity share capital, at Rs 330 per share. Post-buyback of shares, promoter’s stake has come down to 60.24 per cent from 60.58 per cent.