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NHPC board to consider share buyback proposal next week

Press Trust of India  |  New Delhi 

State-run hydro power giant NHPC on Friday said its board may consider a proposal to buy back shares at its meeting scheduled on November 14, in line with the government's aim to garner around Rs 80,000 crore from this fiscal.

The board of directors may consider the proposal for buyback of the fully paid-up equity shares of the company at its meeting Wednesday, the company said in a BSE filing.

However, the company did not specify the number of shares it proposes to buy back or the size of the transaction.

The is banking on merger and acquisitions among PSUs and share buybacks by state-run companies to meet the Rs 80,000-crore target for the current fiscal year 2018-19.

The government holds 73.67 per cent stake in NHPC Ltd, as on September 30, 2018.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 09 2018. 17:00 IST