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28 JANUARY 2021 AL CIRCLE

NALCO announces INR 749 crore buyback plan at INR 57.50 per equity share

EDITED BY : HEENA IQBAL 1MINS READ

The board of National Aluminium Company Ltd (NALCO) has approved a buyback proposal worth INR 749.10 crore. The company plans to buy 13.02 crore shares at INR 57.50 per equity share for an aggregate not exceeding INR 749.10 crore.

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NALCO said in a BSE filing that ''the board of directors of the company in their meeting held on January 27, 2021, has inter-alia approved...buyback of not exceeding 13,02,79,083 (Thirteen Crore Two Lakh Seventy Nine Thousand Eighty-Three) fully paid-up equity shares..at a price of Rs 57.50 per equity share...in cash for an aggregate consideration not exceeding Rs 749,10,47,273 (Rupees Seven Hundred Forty-Nine Crore Ten Lakh Forty-Seven Thousand Two Hundred Seventy Three only.'' 

The company announced it will reveal further details in due course in accordance with the buyback regulations.

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Separately, Bharat Heavy Electricals Limited (BHEL) recently received INR 450 Crore order from NALCO for its5th Stream Alumina Refinery Expansion Project at Damanjodi, Odisha. The contract covers design, engineering, manufacturing, supply, erection, testing and commissioning of 1x300 TPH Coal Fired Boiler, 18.5 MW Steam Turbine Generator and associated auxiliaries, including FGD and SCR.

Tagged with:

NALCO India New projects

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EDITED BY : HEENA IQBAL 1MINS READ

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