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Around 15-20% approx in my opinion.

Lokes ji what's your view in retail category below Rs 2,00,000 worth of share?
I think minimum should be around 30-40%.

@jetha lal: Acceptance ratio can be anything from 50 to 100% , mainly will be depending on share price during tender period. Due to any reason if share price comes around 4200 or above during tender period, then AR may be around 100% and if price keeps below 4K then AR will be lesser around 40-70%. There are many new shareholders this time in retail category just for buyback purpose so it will definitely reduce AR this time. But still in any case, i don't think it will be lesser than 40-50%.

@Lokes
Hi Lokes, If you don't mind, Can you enlighten me on how AR is linked with share price during the tender period. I didn't get this answer in chittorgarh article.
Thank you.

@ New Rookie
Many would have bought below 3800-3700. I price comes to 4000+ lot of people who bought at lower levels will sell and book profit.

Hence total number of share holders applying for buyback will decrease which will result in a higher AR.

Hope I've clarified it.

Yes, You have clarified it. Thank you Rajkumar Bhuj.