IEX Board Meeting Today For Share Buyback Consideration: Details

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IEX Board Meeting Today For Share Buyback Consideration: Details
Credit: © Reuters.

By Malvika Gurung

Investing.com -- The premier power trading exchange Indian Energy Exchange (NS: IIAN ) will remain under focus on Nov 25 as its board will meet on the day to consider a proposal for its share buyback.

In a filing to the domestic bourses on Nov 18, 2022, IEX informed that its board of directors were scheduled to meet on Friday, Nov 25 for consideration and approval of a proposal to buy back fully paid-up equity shares of the company.

The company’s trading window for transacting in its securities shall remain closed for all insiders/designated persons of the company and their immediate relatives from Nov 19 till two days after the conclusion of the board on buy back, in compliance with the ‘Company’s Code of Conduct for Prohibition of Insider Trading’.

A share buyback or share repurchase is a process when a company purchases its own shares from stakeholders and is considered an efficient way (tax-wise), or an alternative for returning money to the shareholders.

IEX’s shares were trading 1.63% higher at Rs 149.35 apiece at the time of writing on Friday. 

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