Nava Bharat Ventures Limited, the flagship company of Hyderabad-based Nava Bharat group, has bought back 1.93 million equity shares of the company from the stock exchange at a price ranging from Rs 106.40 to Rs 166 a share.
The average buy-back price of the equity shares of Rs 2 each stood at Rs 120.41 a share.
The buy-back offer was open from January 6, 2009, while payout formalities were completed by August 12. All the shares bought back were extinguished, the company stated in a release.
Nava Bharat Ventures Limited is into power generation, ferro alloys production and infrastructure development.
