ER 14% on 0.60cr shares through retail buyback means about 4.3cr shares (1.16% of total shares) are held by retail shareholders on record date. Now AR depends on how many out of these 4.3cr shares will be tendered by 23Mar. I think many investors will sell non-entitled shares in open market if share price doesn’t cross 3,700 by 23Mar, as there will be further downward pressure after tender period close.
Now AR depends on how many out of these 4.3cr shares will be tendered by 23Mar. I think many investors will sell non-entitled shares in open market if share price doesn’t cross 3,700 by 23Mar, as there will be further downward pressure after tender period close.