BHEL Buyback at 86 INR with record date of 6/Nov/2018

BHEL Buyback at 86 INR with record date of 6/Nov/2018. Why is the share under pressure at 70 INR? Are the HNIs pushing the prices low to gather as much as possible shares from the retail?

1 Like

@Lakshmikanth_Jadhav ; BHEL is trading WITHOUT BUYBACK eligibility from today .

1 Like

@sabkaview, okay thank you. But still as the buyback is at 86 (which shows that the company has so much confidence on themselves), wouldn’t the price go higher after that.

how much equity is being bought back??

Buy Back Offer Deal:
Buyback Type: Tender Offer
Buyback Record Date: Nov 06 2018
Buyback Offer Amount: ₹ 1628 Cr
Date of Board Meeting approving the proposal: Oct 25 2018
Date of Public Announcement: Oct 25 2018
Buyback Offer Size: 5.16%
Buyback Number of Shares: 18,93,36,645
FV: 2
Buyback Price: ₹ 86 Per Equity Share

In my view higher the amount company pay to buy own shares lower will be the reserves of company after buyback and biggest beneficiaries are the promoters who participate and even after selling huge stake the holding in % terms hardly get diluted but in most cases it increase a bit. for small investors only a small part of your total offerings is accepted in buyback . Hcl tech ,Tcs etc are cases where the acceptance ratio was 100% because the market price at that time was near about or even higher than buyback price. RIGHT NOW buyback cases are Redington ex buyback 84 /125 ,Mphasis ex buyback 970/1350 ,Skf bearing cum buyback 1780/2100 ,Larsen cum buyback 1345/1450.