At meeting held on 05 February 2018
MOIL announced that the Board of Directors of the Company in their meeting held on 05 February 2018 has unanimously inter-alia:- Approved the proposal to buyback of not exceeding 87,66,720 (Eighty Seven Lakh Sixty Six Thousand Seven Hundred Twenty) equity shares of the Company representing 3.29% of the total number of equity shares in the paid-up share capital of the Company) at a price of Rs. 240 (Two Hundred Forty) per equity shares (Buyback Offer Price) of face value of Rs. 10 each payable in cash for an aggregate consideration not exceeding Rs. 210,40,12,800 (Rupees Two Hundred Ten Crore Forty Lakh Twelve Thousand Eight Hundred Only) (the Buyback Offer Size) being 7.50% of the aggregate of the fully paid-up equity share capital and free reserves as per the audited standalone financial statements of the Company for the financial year ended 31 March 2017.
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