Bharat Electronics Limited (BSE:500049) announces a share repurchase program. Under the offer, the company will repurchase 20,397,780 shares, representing 0.83% of its issued share capital, for a total consideration of INR 3,772.59 million. The shares will be repurchased at a price of INR 182.50 per share. The repurchases are payable in cash. The purpose of the offer is to provide return to the shareholders, to increase shareholder value and to optimize the capital structure. The record date for the offer is February 9, 2018. The offer will expire on March 19, 2018. As of January 25, 2018, the company had 2,456,990,723 shares in issue.