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The ₹3,650-crore buyback offer from Coal India (CIL) will open on October 3 and remain open till October 18. The coal major plans to buy back 10.90 crore fully paid-up equity shares of ₹10 each at ₹335 a share. The buyback represents 1.72 per cent of the total paid-up capital of Coal India.
Of the shares proposed to be bought back, 15 per cent has been reserved to be bought back from small investors. The promoter (the government) has already conveyed its intent to participate in the buyback process.
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