Mumbai, Jan 8 (IANS) State-owned NMDC on Tuesday announced a buyback of 3.23 per cent equity shares at a price of Rs 98 per stock for a consideration not exceeding Rs 1,000 crore.

The buyback decision was taken by the company's Board in its meeting held on Tuesday.

The company's regulatory filing to the BSE said that its Board has "approved the proposal to buyback of not exceeding 10,20,40,815 equity shares at a price of Rs 98 per equity share payable in cash for an aggregate consideration not exceeding Rs 1,000 crore representing 4.11 per cent of the aggregate of the fully paid-up equity share capital and free reserves."

--IANS rv/prs