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The Times of India
The Times of India
Business
Sanjay Dutta | TNN

GAIL lines up Rs 1,083 crore share buyback at 24% premium

GAIL NSE New Delhi

NEW DELHI: State-run gas utility GAIL Ltd on Thursday announced a Rs 1,083 crore share buyback plan for 5.7 crore scrips at Rs 190 each, marking a premium of roughly 24% on Wednesday closing price on the NSE.

This is the second buyback in as many years and will benefit the government as it holds 51.8% in India’s largest gas company. The government had in 2020-21 gained Rs 747 crore in a Rs 1,046 crore buyback announced by GAIL.

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