Shares tendered figures as on March 11, 3:30pm Source: Moneycontrol
The companyβs 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
Contact your relationship manager and instruct him to place the order. Really very poor customer service by SBI Cap. As per the relationship manager the brokerage for tendering for buyback is 1% of the value of shares tendered. I found it to be ridiculously high an told him to check and confirm it. Again no reply from them???
I reply having experience in precious buybacks placed via zerodha... If you are able to see the "Cancel Order" option then you do not have anything else to do for now... Your shares will be debited on the last day of Buyback window closure. Zerodha does not debit on the day you place order.
GJ Appreciate your efforts sir I already applied today from all my accounts I have applied all the shares? Should I apply less than what I am holding? what would you suggest?
@Vibhor, I think it depends on how much you were holding on Record Date. If it was more than 44-45 shares (per PAN number), then you are already losing the benefit of the Retail category so decide accordingly.
@shymak, u need to call your sharekhan RM & tell him that u want to tender ur shares for buyback. after your credentials are verified they will place the order. ensure u call them atleast 2 days before say atleast by 21st. these guys forget the matter. i have experienced in MPS & bharat rasayan.
If no of shares tendered are based on ER( no of shares entitled by tcs) would all be accepted ? or would the number of shares will be less than the ER entitled shares in this case?
I see many seeking an answer to the question " if they should tender all the shares or less as AR would certainly be less than 50-60%, like tendering half of the shares"
Tender all the shares, donot keep half, that will result in acceptance of max shares
For an ER of 40% previously AR was 100%. Now with an ER of 14% AR will not exceed 35% ideally..... But at this rate of ER many will back out and thats positive might just increase Retail AR let's Hope for the 50.... But what about single share AR and at what price levels we might see after tender period. Anything below 3100 looks scary.
they will not reject your bid but they will accept part of your shares. dont worry and just tender all shares based on your requirement which will maximize acceptance of shares on your side.
TCS Buyback
Can someone please help me out with tendering TCS shares in Edelweiss?