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Nalco declares share buyback offer worth Rs 5.05 bn; date of closing Nov 28

Last month, the company said its board has approved a proposal to buy back shares worth Rs 5.04 billion

Press Trust of India  |  New Delhi 

Nalco
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State-owned on Wednesday announced share buyback offer worth Rs 5.05 billion.

"The date of opening of the buyback is Tuesday, November 13, and the date of closing of the buyback offer is Wednesday, November 28," (Nalco) said in a filing to BSE.

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said it has extensive plans for brownfield and greenfield expansion, which includes the ongoing fifth stream refinery of 1 MTPA capacity in existing alumina refinery at Damanjodi, 60,000 MTPA alloy wire rod plant at existing smelter and development of Pottangi bauxite mines.

Last month, the company said its board has approved a proposal to buy back shares worth Rs 5.04 billion.

"The board of directors...in its meeting held on October 12, 2018, has unanimously approved....the proposal to buy back not exceeding 6,73,11386 equity shares...in cash for an aggregate consideration not exceeding Rs 504,83,53,950," had informed BSE.

First Published: Wed, November 14 2018. 15:50 IST
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