INSUBCONTINENT EXCLUSIVE:
New Delhi: State-owned iron ore producer NMDC will decide on January 18 names of shareholders who would be eligible to participate in
company's Rs 1,000-crore share buyback.
"NMDC has fixed January 18, 2019 as record date for determining entitlement and names of eligible
shareholders/beneficial owners to whom letter of offer will be sent and will be eligible to participate in buyback of 10,20,40,815 shares
fully paid-up equity shares of company," NMDC said in a BSE filing.
The finance ministry has already given greenlight to company's buyback
plan.
The timeline for launch of offer would be decided by NMDC's board
The government holds 72.43 per cent in NMDC.
It has already lined up buyback offers of nine PSUs, including ONGC, Oil India, IOC, NHPC,
BHEL, Nalco, Cochin Shipyard, NLC and KIOCL
These would cumulatively fetch about Rs 9,000 crore to exchequer.
Shares of NMDC settled down by 3.69 per cent at Rs 91.45 per scrip on BSE
