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IOC to buy back 3% equity shares for Rs 4,435 crore

The company board also recommended an interim dividend of 67.5 percent (Rs 6.75 per share) for the 2018-19 fiscal.

IOC to buy back 3% equity shares for Rs 4,435 crore

New Delhi: State-owned Indian Oil Corp (IOC) Thursday said its board has approved buyback of 3.06 percent of equity shares for Rs 4,435 crore.

IOC will buy back 29.76 crore shares at Rs 149 apiece, the company said in a regulatory filing.

The company board also recommended an interim dividend of 67.5 percent (Rs 6.75 per share) for the 2018-19 fiscal.