NLC India (formerly Neyveli Lignite Corporation) on Tuesday launched its ₹1,491-crore buyback offer for 15.06 crore shares. The buyback will be made at ₹99 a share, which will be payable in cash, said the company.
The buyback offer represents 8.98 per cent of the issued, subscribed and paid-up equity share capital of the company and is open for shareholders. The offer size will not exceed 10 per cent of the aggregate fully paid-up capital and free reserves.