NMDC approves buyback worth Rs 1,378 crore

NMDC ltd. has approved buyback of 13.1243 crore fully paid-up equity shares of face value Re.1 each representing 4.29% of the total number of fully paid-up equity shares at a price of Rs. 105 per equity share.

By Chittesh Dalmia Published on November 11, 2020, 13:48 IST

NMDC ltd. announced on Wednesday that the board of directors has approved buyback of 13.1243 crore fully paid-up equity shares of face value Re.1 each representing 4.29% of the total number of fully paid-up equity shares at a price of Rs 105 per equity share.

The aggregate consideration would be Rs. 1,378.05 crore representing 5.00% of the fully paid-up equity share capital.

Buyback NMDC

Chittesh Dalmia

Chittesh is currently studying at University of Mumbai. His interests lie in finance, business development and technology. Chittesh is currently working as Business journalist at BusinessUpturn.com and he is reachable on chitteshd@gmail.com.