NEW DELHI: State-run electricity generator NTPC on Monday informed stock exchanges that its Board of directors will meet on November 2, to consider a proposal to buy back shares of the company. The notice said the board would meet to consider the un-audited financial results for the half year ended September 30 and “consider proposal for buyback of equity shares” of the firm.
Markets regulator Sebi had granted exemption to the power utility from certain buyback norms for a proposed merger of wholly-owned subsidiaries with the parent company. This springs from a decision in November last year by the NTPC board to merge Nabinagar Power Generating Company Ltd and Kanti Bijlee Utpadan Nigam with NTPC.
