Nava Ltd. Leverages Surplus for USD 50 Million Share Buyback

Nava Ltd. approved a USD 50 million buyback of shares from its wholly-owned subsidiary, Nava Global Pte Ltd. This strategy aims to optimize capital efficiency and shareholder value, leveraging USD 1.26 billion in equity value. The move reflects disciplined capital allocation and long-term growth focus.

Nava Ltd. announced that its Board has approved a USD 50 million buyback of shares from its subsidiary, Nava Global Pte Ltd. The decision comes as part of a strategic initiative to optimize capital utilization and boost shareholder value.

The buyback will see Nava Ltd. monetize part of its investment in the subsidiary, efficiently utilizing accumulated reserves. The transaction, valuing the subsidiary's equity at USD 1.26 billion, is expected to enhance liquidity for new acquisitions and ongoing projects.

Managing Director and CEO Ashwin Devineni stated that the buyback underscores the company's focus on disciplined capital allocation. This maneuver is set to unlock capital from a mature subsidiary and redeploy it strategically, ensuring financial robustness and continued growth.

(With inputs from agencies.)