Interarch Building Solutions Limited Denies Approval of Rs 10 Crore Share Buyback
Interarch Building Solutions Limited, formerly known as Interarch Building Products Limited, has issued a clarification addressing market rumors concerning a share buyback. The company addressed reports circulated in the media, including Business Standard, and on the Groww application/platform, suggesting the approval of a buyback.The alleged buyback transaction specified in the reports was for Rs 10 crore at a price of Rs 2,000 per share.
In its official clarification, Interarch Building Solutions Limited stated that the information regarding the buyback is factually incorrect, baseless, and misleading. The company emphasized that it has not considered, nor has it approved, any proposal relating to the buyback of shares at any Board Meeting or otherwise.
The company confirmed that it is not aware of the source of this incorrect information circulating across various media and platforms.
INTERARCH Stock Price Movement
Shares of Interarch Building Solutions Limited today slipped by 6.45% to settle at ₹1632. The steep decline was notable, as the equity tumbled to print its 52-week low of ₹1600, supported by a trading volume of 454,559 shares.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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