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KSKR Sir Ji,
Sir, you are already aware of the process of buyback. The complaint raised by you is not valid. Let me explain to you the process of buyback again.

First Priority:- 100% Entitled shares accepted.
Second Priority:- Who was entitled to 'Zero shares'.
Third Priority:- After accepting entitled and single shares as mentioned above, additional equity shares are taken into account and accepted proportionately.

As per LOF Entitlement ratio in General Category was 9 out of 593 Shares. The buyback size was 3,23,000 shares for the general category. Promoters have 1,46,94,672 shares and entitled to tender 2,23,000 as per entitled ratio.

On the basis of priority mentioned above after accepting the promoter's entitled shares the balance no. of shares left as 1,00,000 shares (323000-223000). Now refer to notice of post buyback in which you will find valid bids was of 12,37,607 in general category assuming that out of this figure 2,23,000 shares belong to the promoter balance left as 10,14,607 shares.

Based on the assumption:-
Now 10,14,607 shares were entitled to 15,400 shares on the basis of the 9/593 ratio. Now after deducting 223000 and 15400 from 323000 we are left with 84,600 shares and valid bids shares left are 9,99,207 shares. Based on third priority 84600/999207= 8.46% extra shares will be accepted over and above of entitled ratio. Moreover, 8.46% will get reduced to 5% assuming that another HNI investor has also tendered their entitled portion only as the promoter did.

Now you have 200 Shares. First, your 3 shares were accepted then out of your 197 shares 5% more additional shares were accepted i.e. 10 approx. So, the total shares accepted are 13 out of a total of 200.

I hope now you understand the reason behind the AR of 6.5% in your case.

Regards,
Ayush Jindal

Dear Ayush Jindal,
I am extremely sorry for the delay in responding to your post which might be the reason for your repeated one. Thank you

KSRK Sir Ji,
Thank you very much!