The gas distribution firm Gail India Ltd. had announced the buyback programme to return surplus cash to shareholders.
The company will buy back shares from all the existing shareholders/ beneficial owners of equity shares of the company as on the record date—January 28, 2021—on a proportionate basis through the “tender offer.
Buyback Date
The ₹1,046.35-crore buyback offer from GAIL (India) opens for subscription on February 25 and ends on March 10.
Price Per Share
The company will commence the buyback program at a price of Rs 150 per equity share for an aggregate consideration not exceeding Rs 1,046.35 crore.
Impact on Stock Market
On February 17, shares of GAIL India ended at Rs 134.40, up Rs 1.30, or 0.98 percent on the BSE.
Press the 🔔 Icon for notifications of all new updates
