trending Market Intelligence /marketintelligence/en/news-insights/trending/YaUR-bpRIfnu5BSzoyMRZw2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

India's NMDC to launch share buyback worth 10B rupees

Industry Top Trends 2021: Metals and Mining

Greenhouse gas and gold mines Nearly 1 ton of CO2 emitted per ounce of gold produced in 2019

Essential Metals & Mining Insights - September 2020

Essential Metals & Mining Insights - August 2020

India's NMDC to launch share buyback worth 10B rupees

India's state-run National Mineral Development Corp. Ltd. said Jan. 8 that its board approved the repurchase of up to 102,040,815 shares of the company worth 10 billion rupees at 98 rupees per share.

The shares represent 3.23% of the company's total issued share capital. The Indian government currently holds 72.4% in NMDC.

The board will settle on a timeline for the launch of the offer.

In December 2018, the company filed legal action against the southern Indian state of Karnataka to stop it from demanding a higher share of revenue from the sale of iron ore at a local mine.

As of Jan. 8, US$1 was equivalent to 70.15 Indian rupees.