I know that the buyback record date decides if one is elligible to participate in the buyback.
Also understand that i could sell after ex date and then buy shares again to participate in the buyback within the allowed period.
Now if I keep one share in my demat account on the record date and buy 99 later. Will the number of shares accepted in buyback be determined according to 100 or 1 ?
If the answer is 1 then here is another scenario.
I keep 100 on the record date and if the min possible acceptance rate is say 5 percent, then i sell the 95 and submit 5 in tender process.
You need to hold the required number of shares before the offer end date.
Only one share will be eligible for buyback. And yes, you can offer only the number of shares permissible in the said acceptance ratio; shares offered more than the acceptance ratio will be credited back to your Demat account. You can read more about this in our support portal article.
It is still unclear. Does record date decide the number of eligible shares in buyback or the offer end date?
I understand that only the shareholders on the record date are eligible to participate in the buyback. Can that shareholder buy additional shares before the offer end and tender them before the offer end?
It would be great if the answer has a supporting reference (e.g. a SEBI circular).
