Indo Asian Fusegear gains on board nod for share buyback

“The board of directors of the company at its meeting held on July 09, 2011 have approved the buy-Back of the company's fully paid up equity shares of Rs 10 each from the existing shareholders other than the promoters of the company from the open market, at a price not exceeding Rs 130 per equity share payable in cash for an aggregate amount not exceeding Rs 23.19 crore. The maximum number of shares that can be bought back would be 1.78 million equity shares," the company said in a filing to the stock exchanges.

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