Board of South Eastern Coalfields approves share buyback for aggregate Rs 1200.19 crore
Coal India announced that the Board of Directors of South Eastern Coalfields ("SECL"), its subsidiary, at its meeting held on 14 June 2016 has considered and approved the buyback of 846359 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 23.53% of the total number of equity shares in the paid-up share capital of the Company) for an aggregate amount not exceeding Rs.1200.19 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. 14,180.57 per equity share payable in cash.Powered by Capital Market - Live News
