State-owned power equipment maker BHEL on December 5 said its share buyback offer worth Rs 1,628 crore would open on December 13.
The offer to buy 18.93 crore equity shares representing 5.16 percent paid-up equity share capital of the company will close on December 27, the company said in a BSE filing.
The buyback would be done through the tender offer route, it added. The price has been fixed at Rs 86 per equity share of face value Rs 2 each.
The board approved the offer on October 25 and made public announcement in this regard on October 26.Bharat Heavy Electricals (BHEL) had fixed November 6 as the record date to determine the entitlement and names of the eligible shareholders who can participate in the buyback.