However, the company is among the 8 public sector undertakings (PSUs) directed by the government to consider a share buyback in order to boost its disinvestment kitty.
In an order issued on Friday, Sebi
said it had granted an exemption to NTPC from compliance with Regulation 24(ii) of the Buy–back Regulations 2018 subject to certain caveats.
said the scheme of amalgamation would have to be approved by the shareholders of NTPC. Further, it has to be filed with the Ministry of Corporate Affairs (MCA) and the stock exchanges and other provisions of buyback regulations have to be met.
Apart from NTPC, Coal India, NMDC, MOIL, KIOCL and Engineers India are the other PSUs identified by the government for buybacks. None of these companies have announced their buyback plans formally.
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.