India's Religare buys back Rs. 994.3 million 12% non-convertible notes

By Toni Weeks

San Luis Obispo, Calif., April 11 - Religare Finvest Ltd. informed the Bombay Stock Exchange that it has completed the buyback of its 12% secured rated redeemable listed non-convertible debentures that was announced April 5.

The company repurchased 999,000 debentures at a discount for a total price of Rs. 994.3 million. The debentures each have a face value of Rs. 1,000.

As previously reported, Religare was planning to buy back Rs. 1 billion of the debentures at par in one or more tranches either in part or full from the open market. The buyback was to run from April 5 to April 10 and was approved by the company's board of directors at a meeting on April 5.

Religare is a non-banking finance company based in New Delhi.

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