GAIL announces Rs 1,083-cr share buyback at Rs 190 per share

Gail (India) on Thursday approved a buyback of 57 million shares at Rs 190 apiece aggregating to Rs 1,083 crore. The buyback is at a 22 per cent premium to the company’s last closing price. 

Shares of Gail rose 1.5 per cent to end at Rs 155.7. 

The buyback is being done through the tender route-- this will allow the government, which holds 51.8 per cent stake, participate. Gail has said the buyback is for 2.5 per cent of its paid- up capital and free reserves as on March 31, 2021.

In FY22, Gail has paid the highest-ever interim dividend