I was having 6000 shares of NTPC on record date of 13Nov20 but sold all of them in end of Nov month.
I want to ask whether buying and keeping 1500-2000 shares in my demat account assuming the acceptance ratio to be 10-20% can I tender 6000 shares for buyback as I was having 6000 on record date. Or I should have full quantity i.e. 6000 in my demat before tendering.
If you want to tender 6000 shares, you must have that many shares in your Demat account.
On RD he had 6000 shares but susequently sold all… Is it ok if he freshly buys 6000 now and keeps in Demat at the date of applying for buyback offer (7-12-20 to18-12-20) ??
As he held the shares on record date, even if he sold and bought them later, he will be eligible to tender the shares in Buyback.
The Buyback opens on December 7 and closes on December 18.
Thanks for immediate clarification
@ShubhS9 unlike TCS, I have not received any intimidation from NTPC on an email on how many shares are eligible for tendering and acceptance ratio. Is it like an open tendering process?
NTPC Buyback is through Tender Offer not Open Market Buyback, if you held NTPC shares on record date you should have received intimation from the company. If you haven’t you can get in touch with the RTA at [email protected].
You can still tender your shares though, there shouldn’t be any issue, even if your shares aren’t accepted, these will be returned back to you.
Thanks @ShubhS9 … email from them had gone to my gmail spam folder … strange