<p>The government has received Rs 747 crore from share buyback by oil GAIL, DIPAM Secretary Tuhin Kanta Pandey said on Friday.</p>.<p>"GAIL Buyback of shares fully subscribed. The government received Rs 747 cr out of total buyback size of Rs 1046 cr," Pandey tweeted.</p>.<p>Government holding in the company stands at 51.45 per cent.</p>.<p>Under, a company buys its own outstanding shares to reduce the number of shares available in the open market.</p>.<p>Companies buy back shares for a number of reasons such as to increase the value of remaining shares available by reducing the supply or to return surplus cash to shareholders.</p>.<p>The government wants public sector undertakings to either meet their targets for capital expenditure or "reward the shareholder in the form of a dividend" or share buyback.</p>
<p>The government has received Rs 747 crore from share buyback by oil GAIL, DIPAM Secretary Tuhin Kanta Pandey said on Friday.</p>.<p>"GAIL Buyback of shares fully subscribed. The government received Rs 747 cr out of total buyback size of Rs 1046 cr," Pandey tweeted.</p>.<p>Government holding in the company stands at 51.45 per cent.</p>.<p>Under, a company buys its own outstanding shares to reduce the number of shares available in the open market.</p>.<p>Companies buy back shares for a number of reasons such as to increase the value of remaining shares available by reducing the supply or to return surplus cash to shareholders.</p>.<p>The government wants public sector undertakings to either meet their targets for capital expenditure or "reward the shareholder in the form of a dividend" or share buyback.</p>