NTPC to buy back shares worth Rs 2,275 cr as part of restructuring plan
India’s largest power generating company, state-owned NTPC, on Monday received the board’s approval for a share buyback. The board of directors approved the buyback of up to 197.8 million equity shares for Rs 2,275.74 crore, as part of capital restructuring, said the company in a statement.
In a filing with the BSE, NTPC said: “The board of directors of the company in a meeting held on November 2, 2020, has inter-alia approved buyback of the fully paid-up equity shares of the company of face value of Rs 10 each.” The board approved the proposal for buying back 197.8 million fully paid-up equity shares at Rs 115 per unit for an aggregate consideration not exceeding Rs 2,275.75 crore, according to the filing.
