On Wipro — if shares are lent through SLBM and a buyback is announced, how does eligibility work? Specifically, during the record date/tender period, do lent shares get recalled automatically, or does one forgo the buyback participation? Also, is there any practical way to capture both SLBM yield and buyback arbitrage, or is it strictly one over the other ?
Yes, you have to forgo the buyback participation because you have already lent your share to someone. There is no practical way to capture both SLBM yield and buyback arbitrage. You should call back your SLBM stock to participate in the buyback.
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