Energy main GAIL India will open its buyback on February 25 for as much as 6.97 crore absolutely paid-up fairness shares of face worth Rs 10 every. This represents 1.55 per cent of the whole variety of fairness shares in issued, subscribed and paid-up fairness share capital of the corporate.
The firm will purchase again shares from all present shareholders and useful house owners as on document date — which is January 28 — on a proportionate foundation.
GAIL mentioned this will likely be finished by way of the tender supply course of at a value of Rs 150 per fairness share for an combination consideration not exceeding Rs 1,046.35 crore.
The share buyback will shut on March 10. The funds for the buyback will likely be met out of internally-generated money assets, GAIL added.
GAIL is India’s main pure gasoline firm with diversified pursuits throughout the pure gasoline worth chain of buying and selling, transmission, LPG manufacturing and transmission, LNG re-gasification, petrochemicals, and metropolis gasoline.
It owns and operates a community of round 12,500 km of high-pressure trunk pipelines.