There seems to be some confusion among members. 19th October is record date for Dividend and not Buyback. For buyback voting is going on and will be over on 15th November. After that they will announce the record which can be 25th November, as per my assumption.
Hi Rajkumar, prace - i have 2 accounts of me and in both has 1 share each, will 1 share from both d accounts be accepted. Like u said we can apply from multi accounts, hence checking.
First of all, you need to see what ER is declared for buyback. Lets assume it is 16%. This means, 16% of 44 shares i.e. 7 shares will be certainly bought back by the company if you tender these.
Now, if you tender more than 7, then AR comes into picture. So, assuming AR is 50% and you tender 22 shares out of 44. Then, company will accept 50% of shares tendered by you (and not 50% of shares held by you). So, acceptance will be for 11 shares.
@rajkumar: all above replies are wrong in regard to your query. you can see reply to @Amateur Investor in other thread here to understand. Sorry even after seeing your query and replies, i couldn't correct and reply before since i was too much busy and just opened in mobile once to check messages....
I''ve heard that 15% of the buyback will be done from people who have less than 200 shares (or shares of less than 2 Lakh value). This could give decent returns if the shares are accepted.
What about how the shares of HNI will be considered? How will they buy back from Institutions? Please guide.
I bought South Indian Bank shares in my Upstox account but my bank accounts have linked with my Motilal Oswal account.
How do I proceed?