How do I apply for the Tata Consultancy Services Limited (TCS) buyback and when is the record date?

Stocks
81

Hi u would have tendered all ur shares…without u filling the form they cannot take the shares from demat…minimum entailment is different…TCS has 100 perc acceptance ratio for retailers

82

My doubt is acceptance ratio.

@ksksat : any idea about open buyback offer ? how to do those?

83

Hi open buyback is something where the company purchases shares from market at different intervals at various prices. Shareholders cannot give their shares directly unlike the tender buyback. So we can never participate in open buyback

84

Hi,

Then what is the procedure for openmarket. buyback,few companies are in open market.

I didnot understand that we cant participate.comp has given target as some value @ksksat

85

Right now live OPEN MARKET BUYBACK CASES ARE Macoled russel , Dcm shriram ,Radio city ,Icra and Tds power and yesterday Lakshmi i machines announced . promoters are not allowed and non promoters can not participate in such type of buybacks because these are from bse/nse through a broker like you and me buy .

86

Hi

@sabkaview do you know how record date and buyback open and close date are calculated ?

Like for IPO we have t+3 t+6 listing kind of…

87

@Viswanath_Kadiyala : record date announcement is prerogative of management and accordingly exchanges arrive at ex date .Schedule of buyback which is opening and closings date depends on regulatory approvals . in cases like tcs ,hcl ,infosys etc it was 15 days from record date wherein cases like Wipro ,cheviot ,rensa jewelry etc it took 45-50 days . live cases are Redington where record date was 28 September and Larsen where record date was 15 October ,both awaiting buyback schedule.

88

For open buyback they give range of record dates not a single record date

In that date range company will buy back shares at different rages through exchange brokers

Practical purpose we can ignore open buyback and focus in direct tender buyback scrips. That tender buyback is where clearing corporation ensures credit of eligible buyback amount

89

What is expected acceptance ratio in LT? Please share your view on SKF Buyback and its expected acceptance ratio.
Thanks.

90

@rscs : i do hold shares for buyback purpose in Mphais ,Redington and Larsen where record dates have passed and awaiting schedule announcement. A/R will depend on when the actual buyback will be there since market price has tumbled a lot since these shares turned ex buyback. Honestly speaking though a find SKF a good buyback cum investment scrip due to this tumbling market not excited enough to buy …lets see abhi dilli dur hai considering postal ballot approval etc.

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91

Thanks for the reply. I have applied for JBChem buyback. (Also applied for Mphasis and LT)

For JBChem Final day bid details are as below:

Category No. of shares bid for

Qualified Institutional Buyers (QIBs) 58,70,741
Non Institutional Investors 3,00,900
Individual Investors 51,96,939 (Total Public holding 16,064,686 shares)
From above figures only 33% investors have bid for buyback.

E/R was 10% - What could be A/R from above figure?
Thanks.

92

@rscs From these figures you can not make out how much was subscription in RESERVED CATEGORY means those who held up to rs 2 lakh worth of shares as per market price of record date closer.the result date as per schedule is 31 october but what is observed that in most of the cases of buyback and d listing this took place much earlier.

93

Thanks for the reply.

94

Hi
@sabkaview
Redington buyback offer opened ,i have accumulated shares less than 33% calculated with 2lakh,but in the form he pre mentioned 20% of my existing shares.

If overall retailer acceptance ratio is 20% still he should take 288 shares .What kind of calculation is this ?

95

@Viswanath_Kadiyala : the FIRM acceptance in RESERVED category is 71 :391 means just around 18% and in GENERAL category it is 5:207 means just over 2% …looking at huge difference in market price and buyback price such low a/r may turn out losing propitiation at least in short term for those like me who took entry around 100 rs per share.

96

@sabkaview so there is no chance that all shares will be taken right? Because Tcs also sent a form showing 40% acceptance but I have quoted all shares and they took it.

97

Is it good decision to sell remaining shares if denied in buyback on sameday of money credit?

98

Why hurry? Wait for market price to reach buyback price and sell

99

Hello guys,
I have a few shares of TCS with me. if I pledge them to get margin benefit. Will I get the offer to participate in buyback?

100

Yes, you will be eligible for buyback. However, you will have to unpledge the shares to tender them during the buyback.

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