{"id":395774,"date":"2021-01-16T11:20:35","date_gmt":"2021-01-16T05:50:35","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=395774"},"modified":"2021-01-16T12:23:56","modified_gmt":"2021-01-16T06:53:56","slug":"gail-board-okays-share-buyback-plan-of-rs-1046-crore","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/gail-board-okays-share-buyback-plan-of-rs-1046-crore\/","title":{"rendered":"GAIL board okays share buyback plan of Rs 1,046 crore"},"content":{"rendered":"<p>New Delhi: State-run gas utility GAIL NSE -3.82 % will spend up to Rs 1,046 crore to buy back 1.55% of its total shares, the company said in a public filing.<\/p>\n<p>The board green-lighted the buyback plan on Friday. The company would repurchase 6.97 crore shares at a rate of Rs 150 per equity share, an 8% premium to Friday\u2019s price of Rs 139.<\/p>\n<p>GAIL\u2019s share price has risen 21% in the last four weeks of trading.<\/p>\n<p>The company would accept shares from all equity shareholders of the company on a proportionate basis through a tender offer route. <\/p>\n<p>The buyback is expected to give the government a chance at offloading its shares in the company and raise funds in year public finance is under stress.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>New Delhi: State-run gas utility GAIL NSE -3.82 % will spend up to Rs 1,046 crore to buy back 1.55% of its total shares, the company said in a public filing. The board green-lighted the buyback plan on Friday. The company would repurchase 6.97 crore shares at a rate of Rs 150 per equity share, an 8% premium to Friday\u2019s price of Rs 139. GAIL\u2019s share price has risen 21% in the last four weeks of trading. The company would accept shares from all equity shareholders of the company on a proportionate basis through a tender offer route. The buyback [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-395774","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/395774","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=395774"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/395774\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=395774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=395774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=395774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}