SJVN has received an approval for buyback proposal. The board of directors at their meeting held on January 08, 2018, approved the same.
The board approved the proposal to buyback not exceeding 20,68,31,325 equity shares of face value of Rs 10 each of the company (representing 5% of the total number of equity shares in the paid-up share capital of the Company) at a price of Rs 38.75 per equity share payable in cash for an aggregate consideration up to Rs 801.47 crore, being 6.97%, which is not exceeding 10% of the aggregate of the fully paid-up equity share capital and free reserves as per the standalone audited accounts of the Company for the financial year ended March 31, 2017.
SJVN is primarily engaged in the business of generation and sale of power. The company operates through Thermal Power segment.
| Company Name | CMP |
|---|---|
| NTPC | 393.65 |
| Tata Power | 427.45 |
| Adani Power | 198.40 |
| Power Grid Corp | 318.05 |
| Torrent Power | 1565.30 |
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