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This is an archive article published on February 19, 1999

SEBI clears first buy back offer

MUMBAI, FEB 18: The Securities and Exchange Board of India (SEBI) has cleared the first buy back offer after guidelines were announced la...

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MUMBAI, FEB 18: The Securities and Exchange Board of India (SEBI) has cleared the first buy back offer after guidelines were announced last year.The tender offer for buy back of shares of fortune Financial services (India) Ltd at a price of Rs 10 per share was the only buy back offer that the regulator has received so far.

The company expects to buy back 13,73,226 equity shares with face value of Rs 10.Triumph international finance India Ltd was the merchant banker to the issue, SEBI said in a statement here today.

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