Ashiana Housing share buyback opens today; stock up over 3%

Ashiana Housing shares climbed in Wednesday's trading session as the company's buyback window opened today. The stock of the real estate developer rose over 3 per cent to touch the intra-day high of Rs 215.65 apiece. The company's board had approved the buyback of equity shares in July.

At 10:20 am, Ashiana Housing shares traded 3.04 per cent higher at Rs 215 apiece on the BSE. The market capitalisation of the company stood at Rs 2,200.57 crore and the stock has been trading in green for three consecutive sessions.

Ashiana Housing buyback details

The company will buy back at most 18,27,242 equity shares with a face value of Rs 2 per share at a price of Rs 301 apiece, according to an exchange filing. The proposed number of shares represents 1.78 per cent of the total number of equity shares in the paid-up share capital of the company. The aggregate amount payable in cash will not exceed Rs 55 crore, the company said.

The company will repurchase shares through the tender route, and the buyback window will close on August 8.

Ashiana Housing Q4 results 

The real estate company posted a net profit of Rs 9.33 crore for the quarter ending March 2023. The company's revenue stood at Rs 97.65 crore and total income stood at Rs 102.96 crore.

Ashiana Housing share price history 

Ashiana Housing stock has gained over 50 per cent against a rise of more than seven per cent in the headline Nifty index.

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