Daily Expert News
No Result
View All Result
Tuesday, May 17, 2022
  • Login
  • Register
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Arts & Culture
  • Education & Career
  • India
  • Politics
  • Top Stories
Daily Expert News
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Arts & Culture
  • Education & Career
  • India
  • Politics
  • Top Stories
No Result
View All Result
Daily Expert News
No Result
View All Result
  • Home
  • World
  • Economy
  • Business
  • Markets
  • Arts & Culture
  • Education & Career
  • India
  • Politics
  • Top Stories
Home Economy

GAIL approves Rs 1,083-crore share buyback offer. Key details investors should know

by Nick Erickson
March 31, 2022
in Economy
128 5
0
GAIL approves Rs 1,083-crore share buyback offer. Key details investors should know
152
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter
ADVERTISEMENT


State-owned GAIL approved the buyback of the fully paid-up shares on Thursday. The company said it plans to repurchase Rs 1,082.72 crore of shares of the company under a share buyback plan. GAIL will repurchase shares not exceeding 5,69,85,463 of par value of Rs 10 each at a price of Rs 190. Shares of GAIL traded 0.59 percent higher at Rs 154.30. The repurchase price carries a 24 percent premium over Wednesday’s closing price of Rs 153.40. GAIL’s share buyback price is 24 percent premium to previous day’s closing price at NSE

The company has set Friday, April 22, 2022 as the record date to determine whether shareholders are eligible for share repurchases. The buyback will be offered on a pro rata basis through a tender process in accordance with Sebi regulations, 2018. Shares of the government-owned natural gas company traded more than 1 percent higher at Rs 155.05 at 12:28 PM. .

GAIL Share Repurchase Details

The size of the company’s tender offer represents 2.50 percent of its total fully paid-up share capital and 2.22 percent of its free reserves according to the company’s audited standalone and consolidated financial statements for fiscal year 21.

It will be offered on a pro rata basis through a tender process in accordance with the Sebi regulations, 2018.

GAIL Shareholder Pattern

According to the company’s stock pattern prior to the buyback on Friday, March 25, 2022, the government held a 51.45 percent stake in GAIL, FPI’s 19.37 percent and mutual funds 9.09 percent.

What is share buyback?

A tax-advantaged way to reward shareholders, in the context of its share repurchase or repurchase offer, a company buys back its own shares from investors or stakeholders.

Previous buybacks by GAIL

ADVERTISEMENT

GAIL had made a share buyback in 2020-21 from which the government received Rs 747 crore. The company repurchased more than 6.97 crore shares or 1.55 percent of its total paid-up equity. The price was then set at Rs 150 per share.

Started in 1984 as a natural gas transmission company with a single cross-border trunkline, GAIL has now become the flagship natural gas company of India.

It is the largest integrated natural gas marketing and transmission company with a presence across the entire natural gas value chain, including gas transmission and marketing, LPG transmission, gas processing, petrochemicals, LNG imports, exploration and production, and city gas distribution (CGD).

ADVERTISEMENT
ADVERTISEMENT

GAIL owns and operates approximately 13,840 km of natural gas pipeline network, which is 74 percent of the total length of the transnational natural gas pipeline network in 28 states and Union Territories.

GAIL is the leading gas marketing company in India, accounting for approximately 52 percent of the natural gas and 44 percent of the LNG sold in India.

The company supplies 67 percent of the gas consumed in the fertilizer sector, 53 percent for power and 60 percent for CGD in India. Its LNG portfolio is over 14 MTPA (million tons per year).

The PSU has also embarked on alternative energies such as green hydrogen, renewables and biofuels, which are of national importance and are likely to provide a transition into the future.

Read all the latest news, breaking news and IPL 2022 Live Updates here.

Tags: 1083croreApprovesbuybackDailyExpertNewsDetailsGAILinvestorsKeyOffershare

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
ADVERTISEMENT

Related Posts

How 5 States' Election Results Could Affect Tomorrow's Stock Market
Economy

Sensex records biggest one-day rally in 3 months, up 1,344 points, handy ends above 16,200

May 17, 2022
BSE appoints ex-RBI deputy Guv SS Mundra as chairman
Economy

BSE appoints ex-RBI deputy Guv SS Mundra as chairman

May 17, 2022
GoAirlines, Adani Wilmar among 38 approved IPOs; Upcoming IPOs to watch out for
Economy

eMudhra IPO Opening Soon: GMP, Date, Price, Finance, Important Things You Need To Know

May 17, 2022
LIC IPO: A Guide for LIC Policyholders to Buy Shares at Discounted Rates
Economy

LIC Share Price BSE, NSE, LIC Listing Today: Buy, Sell or Hold, What Should Investors Do?

May 17, 2022
Stock Market Watch: Tata Power, NTPC, L&T and other stocks follow on 2022 budget
Economy

Stocks to Watch Today: Bharti Airtel, LIC, GlaxoSmithKline, InterGlobe Aviation and others

May 17, 2022
LIC IPO: Mega Listing Gains for Investors? Know what GMP proposes today
Economy

LIC Policyholders: Buy, Sell or Hold What Should You Do After the LIC IPO Lists Come Out Tomorrow?

May 16, 2022
  • Trending
  • Comments
  • Latest
Live updates: Russia invades Ukraine

Ukraine pledges ‘immediate investigation’ after video surfaced of soldiers shooting Russian prisoners

March 28, 2022
An Anaconda's Playdate With Dolphins Took a Strange Turn

An Anaconda’s Playdate With Dolphins Took a Strange Turn

May 2, 2022
'Better Call Saul' Season 6, Episode 2: Do the Hustle

‘Better Call Saul’ Season 6, Episode 2: Do the Hustle

April 19, 2022
And now the $200,000 facelift

And now the $200,000 facelift

May 3, 2022

Hello world!

0
NDTV News

IT startup Fareye aims to change Unicorn within a year, founder says

0
How did Stephanie Murphy, a holdout on Biden's agenda, help save it?

How did Stephanie Murphy, a holdout on Biden’s agenda, help save it?

0
How did Stephanie Murphy, a holdout on Biden's agenda, help save it?

How did Stephanie Murphy, a holdout on Biden’s agenda, help save it?

0
NDTV News

US missile tested faster than 5 times the speed of sound

May 17, 2022
IOCL Hires Engineers, Officers via GATE Score, Salary up to Rs 1,60,000

IOCL Hires Engineers, Officers via GATE Score, Salary up to Rs 1,60,000

May 17, 2022
How 5 States' Election Results Could Affect Tomorrow's Stock Market

Sensex records biggest one-day rally in 3 months, up 1,344 points, handy ends above 16,200

May 17, 2022
ECB chief Harrison writes to CA wants England players involved in Australia's Sheffield Shield | Cricket News

Tom Harrison steps down as ECB CEO, Clare Connor retains position for the time being | Cricket News

May 17, 2022
ADVERTISEMENT

Recent News

NDTV News

US missile tested faster than 5 times the speed of sound

May 17, 2022
IOCL Hires Engineers, Officers via GATE Score, Salary up to Rs 1,60,000

IOCL Hires Engineers, Officers via GATE Score, Salary up to Rs 1,60,000

May 17, 2022

Categories

  • Africa
  • Americas
  • art-design
  • Arts
  • Asia Pacific
  • Astrology News
  • books
  • Books News
  • Business
  • Cricket
  • Cryptocurrency
  • Dance
  • Dining and Wine
  • Economy
  • Education & Career
  • Europe
  • Fashion
  • Food
  • Football
  • Gadget
  • Gaming
  • Golf
  • Health
  • Hot News
  • India
  • Indians Abroad
  • Lifestyle
  • Markets
  • Middle East
  • Most Shared
  • Motorsport
  • Movie
  • Music
  • New York
  • Opinion
  • Politics
  • press release
  • Real Estate
  • Review
  • Science & Space
  • Sports
  • Sunday Book Review
  • Tax News
  • Technology
  • Television
  • Tennis
  • Theater
  • Top Movie Reviews
  • Top Stories
  • Travel
  • Uncategorized
  • Web Series
  • World

Site Navigation

  • Home
  • Advertisement
  • Contact Us
  • Privacy & Policy
  • Other Links

We bring you the Breaking News,Latest Stories,World News, Business News, Political News, Technology News, Science News, Entertainment News, Sports News, Opinion News and much more from all over the world

©Copyright DailyExpertNews 2022

No Result
View All Result
  • Contact Us
  • Home
  • Top Stories
  • World
  • Economy
  • Business
  • Opinion
  • Markets
  • India
  • Education & Career
  • Arts
  • Advertisement
  • Tax News
  • Markets

©Copyright DailyExpertNews 2022

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.