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NHPC's Rs 600-cr buyback offer to open on January 1

The share repurchase programme will close on January 14, 2019, the hydro power giant said in a regulatory filing.

NHPC's Rs 600-cr buyback offer to open on January 1

New Delhi: State-owned NHPC on Thursday said its offer to buy back 21.42 crore equity shares at Rs 28 apiece, aggregating to Rs 600 crore, will open on January 1.

The share repurchase programme will close on January 14, 2019, the hydro power giant said in a regulatory filing.

The company proposes to buy back up to 21,42,85,714 equity shares (representing 2.09 percent of total paid-up equity share capital) at Rs 28 apiece for an aggregate consideration not exceeding Rs 599,99,99,992, the filing said.

Shares of the company ended flat at Rs 26.10 on BSE Thursday.

Last month, the company's board had approved the buyback offer. The board had fixed November 30 as the record date for the purpose of determining the entitlement and the names of the shareholders eligible to participate in the buyback.

NHPC had posted a 19.62 percent jump in its net profit at Rs 1,218.51 crore in the quarter ended September 30, 2018, compared to Rs 1,018.64 crore a year ago.

Its total revenue rose to Rs 2,966.58 crore in the second quarter from Rs 2,490.70 crore a year ago.

The company in its Annual General Meeting held on September 27, 2018 approved final dividend of Rs 0.28 per equity share (face value of Rs 10 each), which is in addition to the interim dividend of Rs 1.12, totalling to Rs 1.40 per equity share for 2017-18.