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Goldiam International Buyback

AR 13/200. A very very disappointing.

Goldiam International Buyback

Dear Ayush Jindal,
I am grateful to you for enlightening me regarding the basis of acceptance of shares for the buyback. I wholeheartedly appreciate your knowledge in this regard n kindness to elaborately explain the process. Please keep it up. God blesses you with all the best. Thank you once again.

Goldiam International Buyback

KSKR Sir Ji,
Thank you for your kind and affectionate words. And wishing you a Very Happy New Year 2022.

Goldiam International Buyback

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

Goldiam International Buyback

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

Nucleus Software Buyback

Yesterday i have placed buy order for 300 shares at 586 rs when price was 587 and then i got busy in work and it was my bad luck that only 1 share was bought in that order :) so today i bought at very high avg price of 604 rs for buyback around 300 shares to be in retail category.
Anyways i feel retail acceptance ratio will still be more than general category as i have studied. it can be around similar also. It can be around 50-55% in retail and around 45% in general.

Nucleus Software Buyback

@KSRK: yes sir, ER difference in retail/general and AR difference in retail/general may be different as per you said. Lets see final AR ratio also. And many people who bought to be in general category, came into retail category due to last 2 days great fall in price so due to that, retail participation may be more and final retail AR may be less. Lets see.
Whatever it is, for all of us, lets hope, AR is atleast above 45% for retail category as most of us are in retail category :)

Nucleus Software Buyback

Lokes ji,
If AR is more than 40% in retail category, it will definitely be treated as reasonably good. But I doubt whether it reaches 40%. I believe that the AR in general category will be more than 50% and may reach even 60%. OK. Let us wait and see. Thank you.

Nucleus Software Buyback

AR is around 15%.

Nucleus Software Buyback

is this possible for promoters to change their decision to participation after the record date or not?

Nucleus Software Buyback

Ganesh ji,
Please see my response with reference to the posting of Lokes ji. Thank you.

Nucleus Software Buyback

Just got email from Kfin

32 shares eligible out of 450 shares available on record date
Its doesnt match up the original expected ER since promoters are not participating in buyback

Nucleus Software Buyback

Sir,
I am still hopeful that AR in your case will be better as your holding of 450 shares is considered under general category. Let us wait and see. Thank you.

MOIL Buyback

Thank you sir for sharing journey post listing of MOIL which happened in 2010. I am victim of MOIL since 2010. During IPO, There was a buzz about strong fundamental, zero debt, good divided paying, brighter future due to monopoly etc. I could not get IPO allotment so I heavily invested on listing day. I purchased qty 800 @ 520-545. Due to bonus issues, MOIL qty has become 1600 @ approx. average price Rs262. I am still holding qty 1600 till date and also not planning to tender share in buy back. In fact, I have purchased qty 2000 @170.4 in two different accounts to buy back. Let see how my strategy will help to minimize loss. I was not aware that MOIL has given Rs 98 dividend till date. I think as on today or after buy back I will be in profit. Holding period is no issues with me.
Any comments wrt above, most welcome. KSRK sir, your comments are highly appreciated and obliged also.

MOIL Buyback

Very good suggestion by KSK sir.
In buy back there is an opportunity for acceptance of extra shares consequent upon non participation of many holders.
Moreover, as a thomb rule all shares in hand is to be tendered which will increase the acceptance of extra shares.

MOIL Buyback

Sir,
Thank you for your kind compliment n detailed explanation.

Nucleus Software Buyback

Nucleus AR 15%, buyback open 3-Jan to 14-Jan, settlement 25-Jan..

Nucleus Software Buyback

sorry typo ER 15%.

Nucleus Software Buyback

Got mail for buyback confirmation. It will start on 3rd Jan and will end on 14th Jan.

MOIL Buyback

GE Shipping ( Great Eastern Shipping) announced board meeting on 27th December 2021 to consider buy back.

MOIL Buyback

GE shipping board outcome

Buy back of 225 Crores amounting to 10% of equity and reserves at Rs.333 per share through open market route.

MOIL Buyback

Sir,
I have expected that the buyback will be through Open market only. Hence, not disappointed. Thank you for updating.

Nucleus Software Buyback

Tender mail received
Entitlement is 46 out of 299
Approx 16%

MOIL Buyback

Sell on Wednesday above 185 and book profit.
Invest those money in next IPOs.
No cleverness in holding for more days.
Thanks

MOIL Buyback

Ankit ji,
Our opinions may differ but not our relationship. Thank you.

MOIL Buyback

@ KSK Sir
After going through different view point in this aspect , I put some points for taking conversant decision.
1. This share was listed in Dec 2010 , I can till recollect the craze created at that time. Everybody was speaking of Moil, Moil, Moil . But eventually after eleven good years we see it as a wealth destroyer as is relevant for most of the PSU Ipos.
2.IPO price was 187.50 (allowing for 1:1 bonus in sept'2017), listed at 282, days high295 and end with232. The Ipo was subscribed 56times, Qib 49, Nii 143 ,retail 33. In the context of 2010, it was a fabulous subs figure. One black spot that the employee quota was not subs in full.
3. Till date the company has paid total dividend of about Rs 98 per share. But within one year of listing its price droped to as low as 113. Since then its price range is 98.1 to , 269 ; covid low 100. One year low being 133.5
4.At any rate it is not any performing share. Just before the news of buyback its price was 172.4 ,the first news of buyback could not lift it above 180.
5. The present situation of market fall drifted it to 166 and now with the announcement of ex-date , it touched about 181. Had not there been any news of buyback it could have drifted to 155-150 as is seen in case of other PSU.
6. There are some interesting points relevant to this buy back. As at 30/9/21
Out of 23.73 cr shares,. 64.35% belongs to the promoter and 35.65% to others. Retailers portion being 13.14% (3.12 cr , average size 125 shares). 3.38 cr share is earmarked for buy back.
7.Arithmetic shows that the Govt may not be interested to take part in this buyback as much as their non participation will make the promoter stake at exactly
75 %
8.If the promoter takes part the ER will be 13.14% ,if the promoter does not it will be 37% which may conform to upto 70% AR.
9.Now come to a critical value calculation. Theoretically selling or not selling in buyback does not prove to be that material but buyback can give some tax advantage.
10.Taking price at 172.4 as mentioned earlier,the post buyback corresponding price stands at 201 as buyback is essentially a stake appreciation. If anybody argues that its price would have been 150 without any news of buyback, still then appreciated price stands at 175.
11.For buyback and dividend, the amount comes from the reserve. This buy back is good for Rs 29.24 dividend which may have been the alternate action.
If anybody asks me whether to buy at 180, I shall say in affirmative; more and more if he has taken at 170 level. If the promoter does not take part "Balle Balle"
Thanks

MOIL Buyback

Sir,
My cost price of the 1000 shares,I purchased earlier, is around Rs. 174/-. I wholeheartedly appreciate your analytical views. Good. Keep it up. All the best n god blesses you.

MOIL Buyback

KSRK Sir,
I heard news of ajanta pharma buyback. CMP is 2122. And buyback price 2400 (tentative).
This news is true or not?

MOIL Buyback

Jigar A ji,
Buyback price will be known positively on 28/12. On the previous occasion in 2010, buyback was through Tender Offer and has given reasonably good profit. AR was also around 40%, if I am not wrong. Anyway, let’s take a decision only on knowing the details of the buyback on 28/12. Thank you.

MOIL Buyback

KSRK Sir,
Okay thank u very much for ur valuable reply.

MPS Buyback

Take your call seriously as last time bid ratio in smaller holder category was 100 out of 350 and in general category 100 out of 650
Fair high risk to lockin shares for nearly a month

MPS Buyback

Sir,
Thank you very much for your information n views.

MOIL Buyback

I don't think any benefit in entering now.
it is already 180 and market is also volatile so it can drop precipitously after record date.
I am staying away from this.

Those who entered at around 170 may still gain something because fundamentally stock is alright

MOIL Buyback

Sir,
Thank you very much for sharing your views.

MOIL Buyback

Record date 30th Dec 2021 (as per BSE)
Not enough margin left if shares were to be returned post buyback as it may happen after budget
I wont risk if shares (not accepted) are to come back after February 1, 2022. Difficult to predict market post budget in any given year

MOIL Buyback

Sir,
Thank you very much for sharing your views.

MOIL Buyback

Dear Members,

this is the first time i have ventured into buyback, kindly guide how to participate for buyback with zerodha . . .

Thank you in advance

Regards

LABHesh

MOIL Buyback

@coldburger :

c1 : yes, but you will have to buy 600 shares again before tendeing
c2 : yes

do not sell before ex date

buyback will open on zerodha and you can bid there

MOIL Buyback

@labhesh @coldburger:
Once buyback tender period will start, then from zerodha you can place your order from here: Console ->Portfolio -> Corporate actions -> Buybacks.
There you will see open buybacks and can place order by taking cursor near symbol you will see options. For more info, check this link:
https://support.zerodha.com/category/trading-and-markets/corporate-actions/articles/how-do-i-apply-for-buy-back

@coldburger: you will get mail after record date is over for your eligibility and shares holding on record date. you can place order for all shares as holded on record date as per mail (but it should be in your demat while placing order in buyback , so if you are selling after record date then you can buy again to tendor if you wish or you can tender remaining quantity). In buyback mail, dates will be mentioned for tender period upto which you can tender shares in zerodha. Also read above link info in zerodha

MOIL Buyback

Record date for MOIL is 31st dec 21.
CMP 175.90
Buyback price 205
Expected ER is 18 to 20%
Expected AR is 38 to 40%
Both ER, AR may be vary due to price & volume behavior.
Thank you.

MOIL Buyback

Buy backs are beneficial to those holding shares on long term investment. We are trying to take an advantage of a small clause in the regulation favoring small investor below Rs.200000/- with 15% of buy back size. Of late, with several investors cramming this category buying lots lower than 200000 with multiple folios, acceptance ratios have reduced considerably. Those holding from long term with historical prices are normally not affected in post buy back decline share value. We, who buy after announcement are often affected as seen in Star cement, NIIT(initially), Goldaim, and so on. However left over shares in NALCO went up, same is not the case with NTPC, EIL.

Upon announcement ,entire buy back process, involves postal ballot, newspaper advertisement, SEBI approval of draft letter, final letter, followed by record date, opening and closing, about 12 weeks and some case like NIIT it was 20 weeks. This definitely blocks capital forgoing other opportunities in market. So do buy in buy back, if,
1. One is willing to wait longer time post acceptance for the share price to recover, preferably shares in IT sector or large cap shares.
2. Be ready to buy early and sell entire lot or most part if there is appreciable price increase just before record date.
3. Be prepared for a decline post buy back with waiting period of over an year in small cap or family owned small companies.

Do take your decision based on this experience.

MOIL Buyback

Ou Ai ji,
Thank you for sharing your views.

Nucleus Software Buyback

@Admin ji,
Is there any further updates?
Not getting any info when the offer will open/close.

MOIL Buyback

Any views regarding GE Shipping Buyback?

MOIL Buyback

Sir,
On knowing the details of the buyback on 27/12, we can take a decision. Till then, wait. Thank you.