OnMobile Global buys back 40 lakh shares worth Rs 23.76 cr

MUMBAI: Telecom value-added services provider OnMobile Global today said it has bought back shares 40 lakh shares worth Rs 23.76 crore in the open market.

"The company bought back a total of 40 lakh shares amounting to Rs 23,76,20,381 being 95.1 per cent of the maximum buyback size of Rs 25 crore," OnMobile said in a filing to the BSE.

The number of shares bought back is in excess of the requisite minimum buyback of 10 lakh shares as stated by the company in September 2011, it added.

The company said it has completed and closed the buyback with effect from July 4.

The company was in news recently amid allegations of a top functionary being accused of financial irregularities.

OnMobile had, however, refuted the reports saying the allegations were baseless.