Small-cap real estate stock declares buyback of shares at 45% premium. Top five details
Ashiana Housing buyback of shares: Ashiana Housing shares are one of those small-cap stocks that has delivered whopping return to its shareholders in recent stock market rally. The real estate stock has been in uptrend after ushering in the new financial year 2023-24. However, the small-cap stock has remained an idea 'buy on dips' stock throughout the year 2023.
In YTD time, this small-cap real estate stock has surged from around ₹140 to ₹205 apiece levels, delivering around 45 per cent return to its long term positional shareholders. However, there is a piece of stock market news for Ashiana Housing shareholders. The small-cap company has declared buyback of shares at price of ₹301 per share. Ashiana Housing share price is currently quoting around ₹205 apiece on NSE, which means the buyback of shares has been offered at near 45 per cent premium.
The board of directors of the company has set record date for buyback of shares on 28th July 2023 under the tender offer route. The share buyback offer won't exceed ₹55 crore in size. Ashiana Housing Ltd informed Indian stock market exchanges about the buyback of shares citing, "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 unanimously approved the following: 1] The proposal to buyback not exceeding 18,27,242 (Eighteen Lakhs Twenty-Seven Thousand Two Hundred Forty-Two) equity shares of face value of Rs.
Read more on livemint.com
