Coral India Finance board approves buyback of shares

The board of Coral India Finance & Housing on Friday approved the buyback of up to 1.24 crore equity shares, representing up to 24.86 per cent, of the total issued and paid-up equity share capital at ₹17 a share. The buyback, for an aggregate amount of ₹21.08 crore, would be on proportionate basis through the tender offer route. Shares of Coral India Finance slipped 2.4 per cent at ₹13.77 on the BSE.