Coal India Board Clears Buy Back Proposal

Coal India Board Clears Buy Back Proposal

Coal India Ltd (CIL) has cleared the proposal of buyback of equity shares following a marathon board meeting on Monday. The CIL board has approved buyback of ten crore eighty nine lakhs fifty five thousand and twenty three equity shares of the company from all members holding equity on a proportionate basis through the “tender offer” route at a price of Rs 335 per share. The buyback would be 25% of the aggregate fully paid up share capital and free reserves, the company reported the NSE. Read more…

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