Coal India’s (CIL) subsidiaries -- Mahanadi Coalfields (MCL), South Eastern Coalfields (SECL) and Northern Coalfields (NCL) -- received approval to buyback equity shares.
MCL has proposed to buy back 4,42,967 fully paid equity shares of face value of Rs 1,000 each at a price of Rs 8014.13 per equity share aggregating to Rs 355 crore from the members of MCL on a proportionate basis through a tender offer. The equity shares proposed to be bought back by MCL represent 6.21% of the existing paid up capital of MCL.
SECL has proposed to buy back 4,90,039 fully paid equity shares of face value of Rs 1000 each at a price of Rs 7244.32 per equity share aggregating to Rs 355 crore from the members of SECL on a proportionate basis through a tender offer. The equity shares proposed to be bought back by SECL represent 1.453% of the existing paid up capital of SECL.
NCL proposes to buy back 5,18,560 fully paid equity shares of face value of Rs 1000 each at a price of Rs 5845.83 per equity share aggregating to Rs 355 crore from the members of NCL on a proportionate basis through a tender offer. The equity shares proposed to be bought back by NCL represent 7.59% of the existing paid up capital of NCL.
