Interarch Building Solutions has issued a clarification regarding recent news reports about a purported buyback approval. The company has categorically denied any approval or consideration of a buyback proposal amounting to ₹10 crore at ₹2,000 per share.
The clarification comes in response to a news item published in Business Standard and similar information circulated on the Groww platform. Interarch has labelled these reports as factually incorrect, baseless, and misleading. The company has emphasised that no such proposal was discussed or approved at any board meeting or through any other means.
Interarch has expressed its unawareness about the origin of such incorrect information being disseminated in the media and other platforms. It has advised investors and stakeholders to disregard any unverified news reports, market rumours, or third-party information. The company has urged them to rely only on official disclosures and announcements made to the stock exchanges.
The company reiterated its commitment to adhering to disclosure obligations under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Interarch assured that it would make appropriate disclosures as required by applicable laws and regulations.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).