IEX falls 2% as board approves Rs 98 crore share buyback via open market

The board approved buyback of equity shares of the company at a price not exceeding Rs 200 per share and not exceeding Rs 98 crore through the open market

Shares of Indian Energy Exchange (IEX) dipped 2 per cent to Rs 146.80 on the BSE in an otherwise firm market after the company announced its board's approval for a share buyback proposal. In comparison, the S&P BSE Sensex was up 0.32 per cent at 62,496 at 11:07 am.

The buyback will be done at a price not exceeding Rs 200 per share and not exceeding Rs 98 crore through the open market.

The buyback would be done from the shareholders of the company other than the promoters, the promoters group and person in control of the company.