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Shares of MOIL will remain in investors’ focus, as they will turn ex-date for the proposed buyback on February 16. Investors wishing to participate in the buyback offer need to buy the PSU’s shares by Thursday. The Centre aims to buy back 87.66 lakh shares (or 3.29 per cent of the paid-up equity) at ₹240 a share. The size of the buyback will not exceed ₹210.40 crore, which represents 7.5 per cent of the aggregate of the fully paid-up equity capital and free reserves of FY17.
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