GAIL's Rs 1,083 crore buyback offer kicks off: Should you tender shares?

The company has prescribed a buyback ratio of 2 shares for 25 equity shares for reserved category whereas 2 shares for 179 equity shares for general category.

The Rs 1,083 crore buyback by state-run GAIL (India) opened today and will run till June 7. The 14-day long buyback offer is priced at Rs 190 per share, representing a premium of 28.28 per cent on the BSE and 29.20 per cent on the NSE.

The state gas utility plans to buyback 57 million shares of face value of Rs 10 each. It intends to buyback shares through two different categories: reserved category for small shareholders, who have held shares of not more than Rs 2 lakh, and general category that is applicable for all eligible shareholders other than