Business Daily from THE HINDU group of publications
Sunday, May 03, 2009
ePaper | Mobile/PDA Version | Audio | Blogs
Business Daily from THE HINDU group of publications Sunday, May 03, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
|
|
|
|
|
Home Page
-
Real Estate & Construction Corporate - Buyback DLF wraps up buyback ahead of schedule Our Bureau Mumbai, May 2 Real estate major DLF Ltd announced on Saturday the closure of its buyback programme, two months ahead of schedule. The programme fetched only a little over 10 per cent of the upper limit of shares that could be tendered. The closures were announced after the company acquired the minimum requisite number of shares for an aggregate amount of Rs 140.69 crore. The company had earlier planned to buy back a maximum of 2.2 crore shares equivalent to 9.80 per cent of its total paid up capital for a sum not exceeding Rs 1,100 crore. As per the buyback plan announced last year in July, DLF had offered to buy back its shares of face value Rs 2 each at a price not exceeding Rs 600 a share. The company’s share price has been quoting in the range of Rs 300 to Rs 125 between October 17 and April 29 on the stock exchanges since the commencement of the buyback. On Thursday, DLF shares closed with a gain of 2.71 per cent at Rs 230.90 on the BSE. The decision for early closure was taken by the DLF board on April 30, DLF said in a filing to the BSE. “The company, having purchased the requisite minimum number (55 lakh shares) of equity shares, has decided to close the buyback with effect from May 6, 2009,” DLF said. “As on May 1, 2009, the company has bought back 76,38,567 equity shares for an aggregate amount of Rs 140.69 crore. “No order for the buyback shall be placed after May 4, 2009,” the company added. DLF promoter and promoter group held 88.55 per cent stake in the company, according to the shareholding pattern reported to the BSE at the close of the March 31, 2009. DLF board gives nod for buyback; date set next week DLF fixes buyback price at Rs 600/share maximum More Stories on : Real Estate & Construction | Buyback | DLF Ltd
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2009, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|
