State-owned Indian Oil Corp (IOC) Thursday said its board has approved buyback of 3.06 per cent of equity shares for Rs 4,435 crore.
IOC will buy back 29.76 crore shares at Rs 149 apiece, the company said in a regulatory filing.
The company board also recommended an interim dividend of 67.5 per cent (Rs 6.75 per share) for the 2018-19 fiscal.