Shares tendered figures as on March 11, 3:30pm Source: Moneycontrol
The company’s buyback has seen participation from 223,875 investors as of 3:35 pm on March 11, which is only the third day of the buyback window. Previously, the highest participation in a buyback by the information technology major was of 195,470 investors in 2020.
The participation has likely been led by retail investors and mutual funds. So far, retail investors have tendered 8.5 million shares out of the 15.2 million shares offered to the company by investors at the end of the third day of the buyback window, according to the data on BSE and National Stock Exchange.
I am also new to this process and participating for the first time. I found this data, therefore thought of sharing this.
Personally, I still expect AR to be in the range of 40-50%. I think interested retail investors, who wanted to tender their shares, will tender in initial few days. Also, if share price improves and comes in the vicinity of 4000, some people my cancel their tender orders.
I believe experts can comment better based on their experience.
They mentioned a category as individuals without specifically mentioning as retail investors like they do for IPOs. So i think that 8.5mn shares includes of individual investors below 2lk and above 2lk holding too