What is the size of the MOIL buyback offer likely to be ?
Answer
Answer
Shareholders of MOIL approved a buyback of 3.38 crore shares and the record date for the member register will be 31st December. MOIL will buy back 3.38 crore share at Rs.205 per share for an overall consideration of Rs.694 crore. That translates into 14.26% of the total paid-up share capital of MOIL. MOIL is India’s largest manganese ore mining company.