Development News Edition
Give Feedback

NHPC may consider proposal to buy back shares at meeting scheduled on November 14

Devdiscourse News Desk new delhi Last Updated at 09-11-2018 17:17:18 IST India

State-run hydro power giant NHPC on Friday said its board may consider a proposal to buy back shares at its meeting scheduled on November 14, in line with the government's aim to garner around Rs 80,000 crore from disinvestment this fiscal.

The board of directors may consider the proposal for buyback of the fully paid-up equity shares of the company at its meeting Wednesday, the company said in a BSE filing.

However, the company did not specify the number of shares it proposes to buy back or the size of the transaction.

The Finance Ministry is banking on merger and acquisitions among PSUs and share buybacks by state-run companies to meet the Rs 80,000-crore disinvestment target for the current fiscal year 2018-19.

The government holds 73.67 per cent stake in NHPC Ltd, as on September 30, 2018.

(With inputs from agencies.)

add banner