Rolta India up 4% on buyback offer

MUMBAI: Shares of Rolta India were up 4 per cent after the company said it has made a tender offer to buy back $150 million convertible bonds.

The zero-coupon convertible bonds, which were due in 2012, will be repurchased for cash in the form of a modified Dutch auction, the company said in a notice to the exchanges. The offer opens June 22 and closes June 25.

At 11:10 am, the stock were up 3.67 per cent at Rs 132.65 on the BSE.