New Delhi: State-run hydro power giant NHPC on Friday said its board may consider a proposal to buy back shares at its meeting scheduled on November 14, in line with the government’s aim to garner around ₹ 80,000 crore from disinvestment this fiscal.
The board of directors may consider the proposal for buy-back of the fully paid-up equity shares of the company at its meeting Wednesday, the company said in a BSE filing.
However, the company did not specify the number of shares it proposes to buy back or the size of the transaction.
The finance ministry is banking on merger and acquisitions among PSUs and share buy-backs by state-run companies to meet the ₹ 80,000 crore disinvestment target for the current fiscal year 2018-19.
The government holds 73.67% stake in NHPC Ltd, as on September 30, 2018.
This story has been published from a wire agency feed without modifications to the text.