ONGC board approves buyback of shares for Rs 4,022 cr

12/20/2018

Mumbai, Public sector undertaking Oil and Natural Gas Corporation Ltd (ONGC) said its Board of Directors at the meeting held on Thursday has approved the buyback of the fully paid-equity shares of the Company not exceeding 25,29,55,974 equity shares being 1.97 pc of the total paid-up equity shares of the Company at the price of Rs. 159 per equity share payable in cash for an aggregate consideration not exceeding Rs 4022 Crore which is 2.34 pc of the aggregate of the fully paid-up equity share capita. The Company has fixed Friday, January 4, 2019 as the Record Date for determining the entitlement and the names of the Shareholders / Beneficial Owners to whom the letter of offer will be sent and will be eligible to participate in the buyback, company said in filing with BSE.

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