I have doubts
2. Infosys will buy stock’s from open Market. So what’s the process to sell it to them and transfer shares to them through DIS slip
3. Can I buy more shares from Market and tender the shares anytime
In Open Market Buyback, you cannot tender shares to the company, this can be only done if it is Tender Offer Buyback.
In Open Market Buyback the company will be actively buying shares from the market on exchange platform.
This post explains the difference between Tender Offer and Open Market Buybacks:
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Buyback are of two kinds.
Buyback Tender offer - In this case the existing shareholders can tender the shares to the company at a predetermined price.
Open Market buyback - In this case the company will back the shares from the exchange, just like you and me buy shares. Existing shareholders cannot tender the shares.
This was the confusion when the buyback was announced and people were wondering why they cant buy the shares at 1350 (approx the then market price of infosys) and sell it to the company at 1,750.
The company has appointed Kotak Mahindra Capital Company Ltd has the manager of the buyback. The buyback will begin from 25.June until 24 December. During this period, the company will back back the shares in a staggered manner with a max price of 1750 (as per mandate).
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