Ashiana Housing board approves buy-back of equity shares

The Board of Directors of Ashiana Housing Limited (hereinafter referred to as the "company") in its meeting held today i.e. on 12th July 2023, from 03:00 p.m. to 05:10 p.m. has approved the proposal to buy-back not exceeding 18,27,242 (Eighteen Lakhs Twenty-Seven Thousand Two Hundred Forty-Two) equity shares of face value of Rs. 2 (representing 1.78% of the total number of equity shares in the paid-up share capital of the company) at a price of Rs. 301/- (Rupees Three Hundred and one) per equity share (hereinafter referred to as the "Buyback Price") payable in cash for an aggregate amount not exceeding Rs. 55,00,00,000/- (Rupees Fifty-five Crores) (hereinafter referred to as the "Buyback Size").

The said Buyback is proposed to be made from the existing shareholders of the company as on the record date i.e. 28 July 2023 (Friday) on a proportionate basis under the tender offer route in accordance with the provisions contained in the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018 ("Buyback Regulations") and the Companies Act, 2013, the Companies (Management and Administration) Rules, 2014, subject to all other applicable statutory approvals. The Buyback size does not include transaction costs viz brokerage, applicable taxes such as securities transaction tax, GST, stamp duty, any expenses incurred or to he incurred for the Buyback like filing fees, advisors/legal fees, public announcement publication expenses etc. and other incidental and related expenses.

Shares of Ashiana Housing Limited was last trading in BSE at Rs. 198.75 as compared to the previous close of Rs. 196.40. The total number of shares traded during the day was 16847 in over 611 trades.

The stock hit an intraday high of Rs. 204.90 and intraday low of 197.50. The net turnover during the day was Rs. 3388734.00.

Source : Equity Bulls

Keywords

AshianaHousing INE365D01021 Buyback TenderOffer