(PTI)
State-owned Oil and Natural Gas Corp’s (ONGC) Rs 4,022 crore share buyback programme will open on January 29 and close on February 11, the company said in its offer letter to shareholders. ONGC’s board had on December 20 approved buyback of 25.29 crore shares for Rs 159 apiece as part of the government plan to get cash-rich PSUs to part with their surplus. The government, which holds 65.64 percent stake in the company, stands to gain about Rs 2,640 crore from tendering some of its shares in the buyback programme.
