Bharat Electronics (BEL) has received an approval for buyback of not exceeding 2,03,97,780 equity shares of the company (representing 0.83%) of the total number of equity shares in the paid-up share capital of the Company) at a price of Rs 182.50 per equity share payable in cash for an aggregate consideration not exceeding Rs 372.25 crore. The board of directors at its meeting held on January 30, 2018 approved the same.
BEL is a multi-product, multi-technology, multi-unit conglomerate with over 350 products in the areas of military communication, radars, naval systems, C4I systems, weapon systems, homeland security, telecom & broadcast systems, electronic warfare, tank electronics, electro-optics, professional electronic components and solar photovoltaic systems.
