InvestorQ : Has NMDC also announced a buyback? What are the terms of the buyback offered by the company?
diksha shah made post

Has NMDC also announced a buyback? What are the terms of the buyback offered by the company?

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Arti Chavan answered.
4 months ago
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You are absolutely correct as NMDC also follows the trend of other large profitable PSUs in doing a buyback of its shares. After Hindustan Petroleum and NTPC, it is now the turn of NMDC to buy back shares to reduce its outstanding capital.

On 10 November, when NMDC declared its quarterly results, it also announced a buyback of 13.12 crore shares at a price of Rs.105 per share. That takes the total size of the buyback to Rs.1378 crore in value terms.

Like in the previous cases of HPCL and NTPC, the price for the buyback has been fixed at a 12% premium to the last traded price. The government has been trying hard to reach its divestment target and with the LIC IPO likely to be delayed to next year, this appears to be the only way out.

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