You need to unpledge the shares and hold them in your demat as of the record date.
Sir
i have 117 shares of Infy but it is in Brocker DP ID
so hav i eligible for Buyback please suggest
To be eligible for the buyback you need to have shares in your demat as of November 1st which is the record date.
As shown in above image, if I want to tender all the shares for buyback, can I enter 75 against shares offered for buyback? Or do I need to enter only 33 Or is it additional shares (75-33=42)? Could you please explain in detail last row which is ‘Number of Equity Shares offered for buyback (Including Additional Shares)’?
Hi, I have 100 shares how many shares i can tender for buyback? Also what date I will receive the email?
Just to confirm, this is only an example of a tender form and is not the Infosys tender form. That being said, Infosys will calculate the ‘number of equity shares entitled for buyback’ based on the number of equity shares you hold and this will be mentioned in your tender form like above.
Let’s take the above numbers itself for an example:
Number of equity shares held on record date: 75
Number of equity shares entitled for buyback: 33
Number of equity shares offered for buyback:
Here you can enter any number from 1 to 75. If you enter any number from 1 to 33, it will be compulsorily bought back by Infosys as you are entitled to it. You can also enter a number between 34 to 75. These additional shares that you hold may or may not be bought back depending on the number of people applying for the buyback. Say you enter 75 shares for buyback, here 33 will be compulsorily bought back and any extent of the additional shares eligible for the buyback will depend on the number of people applying and the number of shares Infy are allowed to buyback.
You can enter the entire 100 shares for buyback but the number of shares you are entitled to for compulsory buyback will be mentioned in your tender form only.
You’ll receive the tender form via email only after the record date of 1 Nov 2017.
One of My friend brought Infy Share few days back Just for This Buyback Offer.
I suggested him not to do this.
He will be eligible for Buyback?
Yes, he will be eligible for the buyback offer.
As mentioned in the post,
‘Please note that 31 Oct 2017 is the Ex-date and the last date to buy the shares to be eligible for the buyback offer is 30 Oct 2017 as it takes 2 days for the shares to be credited to your Demat account.’
So all shares bought on or before 30 Oct 2017 will be eligible for buyback.
What is the timeline of the buyback? When will the basis of buyback be announced and when will the bought back shares be settled?
Do we still need to pay 15% tax for the buy back amount, as this comes under short term gain.
For how many days approximately we need to keep Infosys shares in demat account without selling after November 1st, inorder to get the buyback amount.
what does including additonal shares mean in this form?
After Record Date , how much time company usually give to tender the shares
Yes, if you held the shares for less than 365 days in your Demat account, then it is a short-term capital gain and you are liable to pay a 15% tax on your profit.
If you apply for the buyback by submitting your filled tender form to us, then Zerodha will debit the shares from your Demat and transfer the shares to the RTA. The shares will be transferred after we receive your tender form and place your bid.
‘Including additional shares’ means the shares you hold in your Demat account over and above your buyback entitlement. Read this.
The cut-off date to tender shares should be mentioned in the tender form itself.
I have one question regarding this:
- From this ex, lets say I hold 75 shares on record date, but subsequently sale 45 of them on the next day (balance: 30 shares). Now, will I still be entitled to 33 shares buyback?
I want to surrender as well bud did not receive anything. I have an account with Geojit. whom to contact?
A bid can be placed only for the shares present in your Demat account. If your held 75 shares and already sold out 45, you only have 30 shares remaining in your Demat. A bid can only be placed for these 30 shares.