NLC India: Buyback offer opens today

The ₹1,248.99-crore buyback offer of NLC India (formerly Neyveli Lignite Corporation) will open for subscription on Tuesday and close on November 28. The PSU company plans to buy back a maximum of 14.19 crore shares, representing 9.29 per cent of the total paid-up equity shares of NLC India, at ₹88 a share. Shareholders whose names appeared on October 24 (record date) in the company’s book will be eligible to participate. The stock will remain in focus.