Saw this message circulating everywhere
The total number of shares to be bought back by the company are roughly 32 cr shares
Out of this 15% is reserved for small shareholders (holding less than 2 lakh rupees worth of shares) as per SEBI guidelines
That amounts to 4.8 cr shares
As per the latest shareholding. the small shareholders hold roughly 5 cr shares
That means an acceptance ration of 90-95%
What is the validity of this message? Does anybody know where can I find the actual figures for small shareholders for WIPRO
Thanks :’)
Hi @ganeshmalpani2,
I am not sure of the validity of the message.
But, you can find the shareholding pattern on the NSE or BSE websites. Although, it is updated quarterly i think.
You can find the shareholding pattern for Wipro as on 31 March 2019 here.
It shows roughly around 11.4 cr shares with Individuals with share capital less than 2 lacs.
So, even if the news is true, the acceptance ratio you mentioned would also come down.
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(1) BUYBACK 2019 @ 325 per share direct from shareholders at a fixed price . will need postal ballot approval and as always promoters are participating
(2)last time it was 99% acceptance ratio in December 2017 at 320 per share for Reserved category . it was for those who held maximum 699 shares( rs 2 lakh market valued as per nse closing on record date ).
(3)It may not be 99% this time since 1:3 bonus issued in March 2019 but i am expecting close to 75%.
(4)ONE JUST CAN NOT FIND OUT shareholding pattern of those holding maximum up to rs 2 lakh worth of shares as per Closing MARKET PRICE on record date till company releases offer document of buyback, for simple reason that Record date will be after about 45 days from now AND BSE/NSE shareholding pattern shows those holding up to rs 2 lakh CAPITAL means face value 2 ONE LAKH shares wherein we want is market value.
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What is the record date for this buyback?
about 45 days for record date as this buyback will need postal ballot approval of shareholders. after record date buyback will start subject to sebi approval which normally take minimum of 15 days to over 2 months.
You should buy the stock if it goes 10% down. This is the best stock for investment. I have read some of the positive comments on investorq.com
Wipro has announced the record date 19th Apr for buyback. I had 50 shares on record date but after that I bought 150 more shares. How many shares can I pledge for buyback? What if I pledge all 200 shares?
@Shivam_Gupta ; this date of 19 April 2019 is for those eligible for postal ballot voting. after approval of postal ballot ( voting is on till 01 June ) the company will announce approval on 03 June and a record date too may be announced same day which may be around 12-14 June.
A particular media report IS WRONG AND MISLEADING when it says that “The company has fixed April 19, 2019 as record cut-off date for eligible shareholders for the buyback plan.”
Last time record date was September 15 and buyback started from November 29.
HOPE it will not take this much time now.
@Shivam_Gupta @ganeshmalpani2 : Last date to buy WITH BUYBACK eligibility is 19 JUNE.
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@siva How many shares I can Pledge for buyback if I’m eligible for buyback?
for say if I have 1 share on 21th June and after that, I buy more shares, then how many shares can I pledge?
the quantity you hold on record date which is 21 June . last date to buy from bse/nse to be eligible for buyback is 19 June .
FINAL Accepted ratio was 100% in JUNE 2016 at 625 per share and 99% in DECEMBER 2017 at 320 per share in small investors category .
Assuming compare to December 2017 lot more awareness about buyback now , slightly less acceptance ratio this time can not be ruled out.
What will be the last date to sell now (and buy later for tendering) so as to still qualify for buyback entitlement? 20th June or 21st June?
I hold shares in Zerodha
20 June is the date from which the share will trade EX BUYBACK offer .
So in layman’s term, will I be able to place a buyback order form zerodha console on 21st??
@Om_Apte @Amit_Chawla : if you have bought on or before 19 June you automatically become eligible for buyback AS AND WHEN BUYBACK START . last time in December 2017 it started 75 days after record date which in this case is 21 JUNE of 2019. it may not take that much time now .
so worst case 21June + another 75 days.
thanks @sabkaview for clearing this doubt
Another such arbitrage opportunity exist in OPEN OFFER of MINDTREE .