The buyback offer from NLC India (formerly Neyveli Lignite Corp) to its shareholders opens on Monday and closes on March 20. The PSU major plans to buy back 14.91 crore shares. The floor price is fixed at ₹99 a share. It had fixed February 10 as the record date for determining the eligible shareholders to participate in the buyback.
The shares will be sold through the tender offer route. Analysts will monitor investor interest in the offer.