Bhagyanagar India has announced a buyback. In an interview to CNBC-TV18, Narender Surana, managing director of the company says, the total buyback would be about Rs 14 crore. “If we complete the entire buyback, promoters’ stake would go up to 71%.”
Narender Surana, managing director, Bhagyanagar India speaking to CNBC-TV18 said there are outstanding FCCBs. However, the total debt on the books is nearly Rs 70 crore and turnover is in the range of Rs 250 crore.
Bhagyanagar India, a part of Surana Group recently announced its plans to buy back its equity shares.
Narender Surana, MD, Bhagyanagar India speaking to CNBC-TV18, said that the company is looking to sell some of it's land parcels in and around Hyderabad. The company is in in advance stage of discussions for the same.
In an interview with CNBC-TV18, Narender Surana, MD, Bhagyanagar India, spoke about the latest happenings in his company and sector.