I surrender only 7 eligibles entitles shares as i sold on ex record date and all 7 share accepted as per contract note. First buyback experience amazing.
Sir, I wholeheartedly n completely agree with your views prevailing in the present situation. I admire your experienced views. How long the massacre continues is a million dollar question and the correct entry price of a particular share cannot be easily assessed. I always prefer IPOs/ Buybacks only as I can’t afford to loose any, in view of my limitations. Thank you very much for sharing. Please keep posting your views.
in previous cases, market wasn't in bull run for previous 2 years
So recovery should take time(logically)
let the dust settle down a bit and then invest
Market anyways was going to correct( inflation)( Fed tightening), now it has even more reasons to do so especially Indian Markets We are highly reliant on OIL to fulfill our energy needs which crossed 100$ mark and our Deficit is also huge(around 9%)
These all are negative signals and because of the above mentioned reasons, I believe, currently it is not the right time to bottom fish
The year is gonna be sideways movement, up and down and up and down
I am fairly certain that it will not come to that because that will mean a lot of loss of lives and property Destruction of a scale that is hitherto unknown
Both sides are nuclear capable and nuclear war is not an option
That will simply mean annihilation of Russia and Europe which is in no one's interest
According to financial express.... .. Buyback Size: Rs 18,000 crore – Buyback Price: Rs 4500/share – CMP (as of 21 Feb 2022): Rs 3720/share – Buyback Premium: Rs 780/share (17.3%) – Record Date: 23rd February 2022 – Total number of shares to be bought back: 4 crore shares (1.1% of paid-up equity) – Shares reserved for small shareholders: ~0.6 crore shares (15% of buyback offer) – Based on Buy Back price of Rs 4500, one can tender up to 44 shares (Rs 2,00,000/4500) to be eligible for Retail category This should make all if.. buts doubt clear
This is weird...Most of the people were of the opinion that record date highest volume price will be considered to check for retail quota. If 4500 rs price is considered and hence only 44 shares maximum for retail quota, then all those who bought 48-50 shares thinking record date price would be less than 4000 are now falling in general category.?????
Many people are having the misconception that up to 44 shares will be counted in Retail category and some of these people are spreading incorrect information without verifying the facts from authentic sources.
To clear the things once more, request all to read the FAQ from TCS's site (page 19) which mentions the price as on record date to fix the category. Link is given below:
Further, it also clearly tells that - 'The Company will pay buyback tax as provided under the Income Tax Act, 1961. As the Company will pay the buyback tax, any proceeds would be exempt from taxation under the Income Tax Act, 1961 for the shareholders.'
@Cautious: i have already seen this news and their author are also ignorant like many others. @snipper: don't worry at all....its very basic thing of buyback, i am participating from 5-6 years in buyback. whatever i keep mentioning in different comments here is correct. Retail category will be decided as per closing price on record date for upto 2 lakh worth of shares.
Below is the link for the news and in same news, this is also mentioned. https://www.financialexpress.com/market/tcs-share-buyback-how-likely-are-you-to-make-quick-profit-if-you-tender-shares-analysts-explain/2440234/
Retail investors looking for short term opportunity can buy the shares of TCS (upto the value of Rs 2 lakhs – as on the record date) from the open market and tender them in the buy-back offer,” said Motilal Oswal in its note.
As per my understanding this report is o.k , except for 200000 ÷3720 for eligibility under retail category. Recorded price is often misunderstood as record date price. It is the price just prior to going ex . Anil Singhvi today told in zee business that record date closing price is taken for determination.
@Asoke Sarkar There is a confusion in your prev post.
Can you tell what as per Anil singhvi , would be the date and price that would be taken into consideration for retail ? Is it Ex-Date viz 22Feb and Price at the start of the Ex date ie 3720 that one should use for calculating elilibilty?
Dear All There appears a confusion about market price on record date to determine small shareholders eligibility.
Share price determining eligibility is given by the stock exchange where TCS planned to conduct the buy back later, NSE or BSE. The said exchange provides share price on 23rd EOD, today to buy back window based on traded price with the highest volume on 23rd. It takes into reckoning prices with volumes over entire trading duration today and aggregates to arrive with traded price. It is not closing price as the last few trades before closing can be manipulated to benefit or not benefit shareholders on the edge.
To be eligible below 2 lakh , one could have purchased shares up to say 50~52 shares at 3720. This would have meant cutting it close, if record date price spikes above 3800. So experts here advocated computing the quantity with 4500 with safe margin.
Withdrawn request horrible experience , no intention to pay client withdrawal request money seems as after 3 day no money sending to accounts.and reply this .......... This is with reference to your mail dated $incidents.created with regards to fund payout.
As per your mail detail we would like to inform you that it takes a 24 working hour fund to get settled from the bank after transferring funds from your bank. hence you were unable to withdraw the fund.