Today Infosys announced a buyback from OPEN MARKET through stock exchanges and not directly from shareholders . the MAXIMUM price fixed is 800 per share.
Disappointing. I made my mother buy shares in her account saying buyback buyback. Now tender route is not there. Useless guys.
Dont know wat to explain now
We can’t participate in open market buyback?
Who can participate and what is it’s process?
Open market buyback means company will buy shares at nse/bse through a broker like you and me buy at prevailing price subject to max rs 800 per share .right now too there are 4 live cases of such buybacks in market and very recent past cases were BSE ltd ,Lakshmi machines etc .
Actually such is euphoria that people assume every buyback to be proportionate method buyback. one may kindly note that even nowadays in this era of Dividend distribution tax and Dividend tax , there are more number of Open market buyback cases compare to Proportionate method buyback .
Open market buyback is cheaper and give the company a long rope .
so it means company will buy it’s shares at as least as possible price but will be ready to pay the maximum of 800rs/share.
Am I right?
YES , and buyback will start sometime in February end after postal ballot approval etc and will remain open for 6 months . the company can close mid way too after achieving /utilizing 50% of target amount.
@Rajiv1 : read all the details on this thread about 2019 buyback of INfosys.
How to participate in the share buy back offer??
I m holding delivery of infosys from 3 months
You have to sell at market price.
Is the buy back still On??.
I have not catered my holdings yet. Can I do it now and if yes how…?
20 march to 19 September 2019 . OPEN MARKET BUYBACK . direct participation of shareholders not possible.Open market buyback means company will buy shares at nse/bse through a broker like you and me buy at prevailing price subject to max rs 800 per share .
Thanks @sabkaview. that is quite a knowledge gain…
So it means I wont be able to sell it back to infy via zerodha console.??
And I was under the impression I can profit from this buyback by selling it back to infy at 800.
What is buyback of shares how it works can I get an explanation?
Would suggest you read this chapter on Varsity, it has been explained in detail: