New Delhi: Energy major GAIL India will open its buyback on February 25 for up to 6.97 crore fully paid-up equity shares of face value Rs 10 each.
This represents 1.55 per cent of the total number of equity shares in issued, subscribed and paid-up equity share capital of the company.
The company will buy back shares from all existing shareholders and beneficial owners as on record date -- which is January 28 -- on a proportionate basis.
GAIL said this will be done through the tender offer process at a price of Rs 150 per equity share for an aggregate consideration not exceeding Rs 1,046.35 crore.