The board of PC Jeweller approved a buyback of 1,21,14,286 shares at a price of Rs 350 comprising of 3.07% of the total paid-lip equity capital of the company.
Shareholding pattern of the company
The company is yet to announce the record date to determine the eligibility of the shareholders to participate in the buyback.
Check this chapter in Varsity to learn more about the impact of a buyback on the shareprice of the company.
a very small buyback of 3.07% equity against 42.37% held by public …coupled with loads of negative sentiments on this company ,market has not appreciated the buyback .
pcj recently announced their buy back plan, following this today i purchased 100 shares. My question is will i be eligible to sell the shares during buy back? In the filing to the bse here https://www.bseindia.com/xml-data/corpfiling/AttachLive/89B23D4F_7FC7_4949_90B0_AFCFADB252CB_075705.pdf they have not mentioned anything about record date so does anyone know about the record date??
Like the circular states, the record date will be announced at a later date. This is a just an approval of the buyback.