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In Letter of offer for Buy Back, mentioned as 27 for Small Shareholders. In my view it is 25 shares. Last price on record date i.e 29 Feb 2024 was Rs.7909.35. So Rs.2,00,000 divided by Rs.7,909.35 is 25.28653 but to be considered 25. Kindly clarify the same on Urgent Bas

Section 19.7 of the offer letter clearly mentions that.

An excerpt from the offer letter
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As on the Record Date, the closing price on NSE, having the highest trading volume, was ₹7,909.35 per Equity Share. Accordingly, all Eligible Shareholders holding not more than 25 (Twenty Five)
Equity Shares as on the Record Date are classified as ‘Small Shareholders’ for the purpose of the Buyback.