NLC India Limited (BSE:513683) announces a share repurchase program. Under the program, the company will repurchase up to 150,606,061 shares, representing 8.98% of the total number of equity shares in the paid-up share capital of the company. The shares will be purchased at a price of INR 99 per share payable in cash for an aggregate consideration not exceeding INR 14,910 million. Repurchases will be made through tender offer. The funds for the buyback will be met out of internally generated cash resources of the company. The repurchase program is subject to all other applicable statutory approvals. The objective of the offer is to return surplus cash to the members holding equity shares broadly in proportion to their shareholding, thereby enhancing the overall return to members. The company has fixed February 10, 2017, as the record date for the buyback program. The program will expire on March 20, 2017.