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Indiabulls Vent
BSE: 532960NSE: IBVENTURESISIN: INE274G01010

11th-Oct-2019 10:47Source: BSE

Indiabulls Ventures - Outcome of Board Meeting

Further to our intimation dated October 08, 2019 and in terms of Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, we wish to inform you that the Board of Directors of Indiabulls Ventures Limited (the 'Company') at its meeting held on October 11, 2019 (which commenced at 10:00 a.m. and got concluded at 10:35 a.m.) has approved a proposal of Rs. 1,000 Crores of buyback (hereinafter referred to as the 'Buyback Size') of upto 6,66,66,666 Fully Paid-up Equity Shares having Face Value Rs. 2/- each of the Company, representing 12.61% of its total existing fully paid-up equity capital ('Equity Shares') at Rs. 150/- per Equity Share (hereinafter the 'Buyback Price'), through the 'Tender Offer' route, as prescribed under SEBI (Buy-Back of Securities) Regulations, 2018 ('Buyback Regulations') and the Companies Act, 2013 and rules made thereunder, as amended (hereinafter referred to as the 'Buyback'). For details, pls. refer attachment.

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