What is the offer end date in shares buyback?

What is the offer end date in shares buyback? If I want to buy back but don’t have shares of that company, To what date can I buy shares? Is it the offer end date? or do I need to buy the shares 3 days before the offer end date? (Due to T+2 settlement)

To be eligible for tendering your shares in the buyback, you need to be holding shares of the company on record date. if you’re not holding the shares, you won’t be eligible for buyback.

You can sell the shares after record date and buy the shares later to tender them. You need to have shares in your demat account on the offer closing date, so best to buy 3 days before the offer closes.

@ShubhS9 So what’s the use of record date here if we can still buy it 3 days before the close date?
Do u want people who had shares in the Demat account on the record date, only those people can buy it 3 days before the closing date? People who didn’t have the shares in Demat on the record date are not eligible for buyback if they buy the shares 3 days before the close date?

Anyone can buy the shares before the buyback offer closing date. Not everyone will be buying shares to tender in buyback.

But only the shareholders who were holding shares on record date are eligible to tender shares in buyback.

Yes, anyone can buy shares any time but they won’t be eligible to apply for buy back is what you mean correct?

And how many days does it take for buy back process? Shares are gone from the Demat account, when will they get back to the Demat account if I don’t get the buy back?

The company will the release schedule of buyback in its LOF (letter of offer) before the buyback gets underway. The settlement will happen according to the schedule given in the LOF.

One of my friend was not holding shares in Demat on the record date, he bought it 3 days before the close date and now he cannot see the shares in holdings. How was his shares chosen for buyback when he was not holding it in his Demat on the record date? Can you please clarify this situation

his tendered shares will be rejected & will be credited back to his account… simple.

But why was the tender not rejected in the first place? How did it get removed from his Demat account without checking if he was holding it on the record date?

The RTA will not accept the tendered shares as he is not eligible for the buyback.

This will be verified by the RTA if the company who keep all the records.

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