Power generator NTPC announced the buyback of 19.78 crore shares worth Rs 2,275 crore on Monday. This is equivalent to a 28% premium.
NTPC said in a BSE filing that in a meeting held on November 2, 2020, the board of directors of the company approved the inter-alia, buyback of fully paid up equity shares of the company, face value of ₹10 each.
The board said that the board has approved the proposal to buy back 19,78,91,146 fully paid up equity shares at a price of ₹115 per unit, totaling not more than ₹ 2,275.75 crore.
NTPC Buyback Details
|NTPC Buyback Record Date||November 13, 2020|
|Board meeting held on||November 2, 2020|
|Buyback public announcement||November 2, 2020|
|Offer amount||₹2275.75 Crore|
The company has fixed November 13, 2020 as the record date to ascertain shareholders’ eligibility for buyback of equity shares.
How shareholders participate in NTPC Buyback
Shareholders can apply for NTPC buyback that have NTPC shares in their demat account as on record date of November 13, 2020.
After date announcement of buyback, shareholder can sell their shares through brocker on NSE and BSE.
If the buyback offer has been opened by the company, you will see it flash either under an Offer for Sale offer or as a distinct buyback option.