As reported first by Indianmandarins, Coal India announced on Tuesday that its subsidiary South Eastern Coalfields Ltd will buy back shares worth Rs 1,200.19 crore. The move will help the government in realising its disinvestment target of Rs 56,500 crore for the fiscal. Already, a number of CPSUs like Nalco and others have announced their board decisions to buy back shares.
"The board of directors of South Eastern Coalfields Ltd (SECL)... at its meeting held on June 14, has considered and approved the buyback of 8,46,359 fully paid equity shares of face value of Rs 1,000 each from the members of the company on a proportionate basis through tender offer," Coal India (CIL) said in a BSE filing.
CIL's subsidiary SECL to buy back shares
By IndianMandarins - 2016-06-15 10:16:29
As reported first by Indianmandarins, Coal India announced on Tuesday that its subsidiary South Eastern Coalfields Ltd will buy back shares worth Rs 1,200.19 crore. The move will help the government in realising its disinvestment target of Rs 56,500 crore for the fiscal. Already, a number of CPSUs like Nalco and others have announced their board decisions to buy back shares.
"The board of directors of South Eastern Coalfields Ltd (SECL)... at its meeting held on June 14, has considered and approved the buyback of 8,46,359 fully paid equity shares of face value of Rs 1,000 each from the members of the company on a proportionate basis through tender offer," Coal India (CIL) said in a BSE filing.
