SJVN Limited (NSEI:SJVN) announces a share repurchase program. Under the program, the company will repurchase up to 206,831,325 shares, representing 5% of its issued shares for INR 8,014.71 million. The shares will be repurchased at a price of INR 38.75 per share. The offer will be met out of fixed deposits with the banks. The purpose of the offer is to return surplus cash to the members holding equity shares of the company, improve EPS and enhanced return on invested capital. The Board noted the intention of Government of India, one of the promoters of the company to participate in the offer. The company has fixed the record date for the offer as January 18, 2018. As of January 5, 2018, the company had 4,136,266,500 shares in issue. The plan will expire as on February 28, 2018.