When the record date for BHEL buyback and is it worth participating in it?
Bharat Heavy Electricals Limited (BHEL) will be buying back 18,93,36,645 shares at a price of Rs 86 per share on a proportionate basis. The company has announced November 6th as the record date.
| Particulars | No. of shares | % of sharecapital |
|---|---|---|
| Promoters | 231,51,78,000 | 63.06 |
| FIIs, resident Indians, FPI’s, MFs | 51,36,77,266 | 13.99 |
| Financial Institutions | 63,52,16,489 | 17.3 |
| Other | 20,73,28,245 | 5.65 |
| Total | 367,14,00,000 | 100 |
How to apply for the buyback?
We’ll open up an order collection window on Q and you can directly tender your shares. The allotted Buyback amount will be credited directly to your bank account by the company’s RTA.
How do I know, how many shares the number of my shares entitled for a buyback?
This can be found on the tender form that will be sent to your registered email ID by the RTA (Registrar and Transfer agents). However, you can tender any number of shares you choose to. The approved shares will be debited from your demat and the equivalent amount will be credited to your bank account. The excess shares you had tendered will be credited back to your demat.
What is a tender form and how does it look like? Do I also have to send it to my broker?
A tender form basically shows you the number of shares you hold as on the record date and the number of shares you hold that are entitled in a buyback. In case of this issue you don’t have to send us your tender form. Here’s a screenshot of a tender form that shows the shares you hold and the shares entitled in a buyback
When is the record date?
November 6, 2018.
Why do companies buyback shares?
Explained here.
BHEL Buyback is coming up. Will Q-Zerodha open window for this buyback?
On the day the buyback opens.
@suresh : buyback open 13 December close 27 December . firm accepted ratio for those holding maximum up to rs 2 lakh worth of share as per market price on record date is around 18%. one can apply additional shares and very much possible that bit more will be accepted .
I will have to apply for buyback from Q without sending Tender Forms and other specified documents including physical Share certificates by the Registrar to Zerodha or BHEL. Am I correct?
As such you do not need any form /buyback form /tender form to participate in buyback because your order has to be entered in system on a special window provided by BSE and sometimes by NSE too.For physical shares the same has to be sent to Registrar for approval /validity so as to be accepted by special window
Hi @Bhuvan
Now I have 500 shares but on record date I had 200 shares of BHEL and I was eligible to tender only 32 shares. My question is how many (max) shares I can pledge for buyback?
What if I want to pledge all 500 shares?
in buyback you can not offer more shares than what you held on record date .