res from the government and other shareholders.
“Once the share buybacks are executed and dividend paid, the coal monopoly will bounce back into black and be in a position of announce dividends for its shareholders too,” the executive, who did not wish to be named, said.
As part of the government’s directive, the board of South Eastern Coalfields on Monday decided to buy
back 4.18% of its shares numbering 1.5 lakh of face value .₹ 1,000 each from its parent, at .₹ 79,777 per share, totalling .₹ 1,200 crore.
Last week, the board of Northern Coalfields, had decided to hand over Coal India .₹ 1,244 crore through a 4.3% buyback programme. Northern Coalfields would be buying back about 75,000 shares of face value .₹ 1,000 at .₹ 1.63 lakh per share. Another Coal India executive said