The company has fixed October 1 as record date for the same.
Share price of KIOCL declined nearly 20 percent intraday Wednesday after company approved the proposal for buyback of its shares.
Board of directors of the company in its meeting held on September 18 approved the proposal to buyback of not exceeding 1,25,88,235 equity shares (representing 1.98 percent of paid up equity) at a price of Rs 170 per share, payable in cash for an aggregate consideration not exceeding Rs 214 crore.
The company has fixed October 1 as record date for the same.
The share touched its 52-week high Rs 506.45 and 52-week low Rs 151.10 on 14 November, 2017 and 01 August, 2018, respectively.
Currently, it is trading 62.48 percent below its 52-week high and 25.74 percent above its 52-week low.
At 10:46 hrs KIOCL was quoting at Rs 190.55, down Rs 38.85, or 16.94 percent.
Posted by Rakesh Patil