Board of Mahanadi Coalfields approves share buyback upto an aggregate Rs 1028.77 cr
Coal India announced that the Board of Directors of the Mahanadi Coalfields ("MCL"), its subsidiary, at its meeting held on 11 June 2016 has considered and approved the buyback of 443973 fully paid equity shares of face value of Rs.1000/- each (Rupees Thousand only) from the members of the Company on a proportionate basis through tender offer (representing 23.82% of the total number of equity shares in the paid-up share capital of the Company) for an aggregate amount not exceeding Rs. 1028.77 crore ("Maximum Buyback Size") being upto 25% of the paid-up equity share capital and free reserves as on financial year ended 31 March 2016, at a price of Rs. 23,171.89 per equity shares payable in cash.Powered by Capital Market - Live News