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Coal India has said that its subsidiary South Eastern Coalfields board has provided its approval for a share buyback plan worth Rs 1,200 crore.
Coal India has said in a BSE filing that “The board of directors of South Eastern Coalfields Ltd (SECL), our wholly-owned subsidiary, at its meeting held on February 27 has considered and approved the buyback of 1,50,443 fully paid equity shares of face value of Rs 1,000 each… from the members of SECL…for an aggregate amount not exceeding Rs 1,200.19 crore.”
It added that “The equity shares are proposed to be bought back by SECL at a price of Rs 79,777 per equity share.”
