Exclusive! GAIL to announce buyback offer
Government owned Gas Authority of India Ltd will soon come up with a buyback offer, Sources said. GAIL will be contributing to the Government's disinvestment target. GAIL is likely to announce the buyback at a price range of Rs 120 to Rs 130 per share which is at a premium of 20% to 30%.
The net cash as of September 2020 was Rs 3000 Crores. Sources also said that GAIL would convene a board meeting to take up the proposal. Source: Reuters