GAIL (India) Limited (NSEI:GAIL) announces a share repurchase program. Under the program, the company will repurchase up to 69,756,641 shares, representing 1.55% for INR 10,463.5 million. The shares will be repurchased at a price of INR 150. The program will be funded out of the company's internally generated cash resources, free reserves and/or such other sources, as the Board may decide. The purpose of the program is optimization of the capital structure and improving return on equity by reduction in the equity base, thereby leading to long term increase in shareholders' value. The record date for the buyback is fixed as January 28, 2021. The repurchase plan will expire on March 10, 2021. As of January 8, 2021, the company has 45,101,41,866 shares outstanding.