The board of state-run hydro power giant NHPC on Thursday approved a buyback proposal at ₹28 a share, aggregating to ₹600 crore.
The board approved the buyback of 21.42 crore shares, representing 2.09 per cent of the paid-up share capital of the company.
The offer would be through a tender offer route on a proportionate basis. The board has fixed November 30 as the record date for the purpose of determining the entitlement and the names of the shareholders who are eligible to participate in the buyback.