HPCL board approves ₹2,500 crore share buyback
NEW DELHI : State-run Hindustan Petroleum Corporation Ltd (HPCL) will launch a share buyback program shortly for its shareholders to a maximum value ₹2,500 crores, the company said today.
The board has approved a proposal to buyback 10 crore shares, which represents 6.56% equity share, at ₹250 per share, reflecting a premium of 34% to HPCL stocks’ closing price on 4 November.
On Wednesday, HPCL’s scrip on NSE closed 0.83% higher at ₹187.20.
