InvestorQ : How big is the NALCO buyback of shares going to be?
diksha shah made post

How big is the NALCO buyback of shares going to be?

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Niti Shenoi answered.
4 months ago
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On Wednesday the 27 of January, the board of directors of NALCO approved the Rs.749 crore buyback of shares by the company using its own internal resources. The company will look to buyback nearly 13.02 crore shares at an estimated price of Rs.57.50 in cash totalling to Rs.749 crore at that price, which his better than the current market price.

The company is expected to disclose details and process of the buyback in the next few days. NALCO is a major player in India in the bauxite, alumina and aluminium space and has been trying to move up the value chain. With the government falling short of its divestment target by a huge margin, it has been trying to look at innovative ways to raise funds.

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