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Shares of Nava Bharat Ventures, on Friday, reversed early losses to trade 7 per cent higher in intra-day after the company board approved the plan to buy back shares worth Rs 150 crore.
The company, in a BSE filing, said the Board of Directors of Nava Bharat Ventures, at its meeting held on February 26, 2021, has approved the proposal to buyback fully paid-up equity shares of face value of Rs 2 each for an aggregate amount not exceeding Rs 150 crore.
The buyback price would not exceed Rs 100 per share, the company further said, adding that at the maximum buyback price and the maximum buyback size, the indicative number of equity shares that can be bought back would be 1,50,00,000 which would be 9.18 per cent of the total number of equity shares of the company. ....

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