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Northern Coalfields ratifies buyback

Coal India has said that the Board of its subsidiary Northern Coalfields has approved a share buyback plan worth Rs 1,244 crore.

‘The Board of directors of Northern Coalfields Limited (NCL), our wholly-owned subsidiary, has considered and approved the buyback of 76,356 fully-paid equity shares of face value of Rs 1,000 each from the members of NCL on a proportionate basis through tender offer,’ Coal India Ltd (CIL) said in a BSE filing. The maximum buyback size is Rs 1,244 crore, it said.

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