GAIL (India) is planning to consider the buyback of shares on March 31, 2022 -- the second buyback in as many years. Meeting of the board of directors of the company will be held on March 31, 2022, to inter-alia consider buyback of the fully paid-up equity shares of the company.
Buying back shares is considered a tax-efficient way of rewarding shareholders. The government owns a 51.80 per cent stake in the company and is likely to participate in the buyback. GAIL had done a share buyback in 2020-21. The government had received Rs 747 crore from that share buyback.
GAIL (India) is India’s leading natural gas company with diversified interests across the natural gas value chain of trading, transmission, LPG production & transmission, LNG regasification, petrochemicals, city gas, E&P, etc.
