Wipro recevied all approvals for buyback. The tender period might start in the last week of november
Sebi final approval received for wipro buyback. Retail acceptance ratio will be around 70%. Buyback will open on 29 Nov and close around 13 Dec 2017 !
This is a Fwd I have received and Yet to be confirmed.
contemplating a situation.Can those people who were holding shares as on record date and sold later for a decent profit make a re-entry by purchasing again say at present market price of 285 and tender at 320 Rs?
Yes. You can purchase it again now and tender under buyback.
Yes , but the no of shares should not exceed the Accepted shares . So if acceptance ratio is 70 % then buy shares equally as to said ratio or the no of shares matching that 70 % . Then for you it would be a 100 % acceptance … I have done this in INFY Bought at 880 and sold at 990 . And if at all shares drop in planning to buy again.
I have to confirm the above strategy if it has worked for anyone as I have personally not done this strategy …
Logically this should work, Anyone who did this before please share your experience about this ?
I have done this strategy recently for the buyback of Nucleus Software and worked fine. The acceptance ratio of Infosys is only 25%. It seems buyback trade is not working now-a-days.
received letter for 70% acceptance
1 Like
Yes 70 % is the theoretical ratio we can apply for all the shares in case fewer tenders then this can go upto 100 %
Any idea about the process of online tendering of shares, seems my broker has no clue how to do it!
The process differs from broker to broker.
Never participated but i guess in brokerages like ICICI Direct and HDFC Sec you can do that online. Must be there in others as well. Check accordingly. Should be similar to applying in IPOs online.
Regards,
Suhag
Did anyone tendered shares through HDFC Securities? They do show Infosys and Wipro in Equity -> Buyback - > Dashboard. But in Action they do not show APPLY button. Any reason why is it so?
I have tendered through ICICI Direct and it was very simple process there.
Now after tendering what happens ? any idea how many days it will take for transactions to realize ?
As the tender offer is closed, any idea how much retail category got over subscribed?
@AmitContrarian -On or before settlement date you woud receive funds for the number of shares accepted and remaining shares will be credited to your Demat account.
In case of Wipro, if you fall in the small shareholder quota, most probably all shares will be accepted.
22nd Dec is the last settlement date so by 22nd everyone will receive the payment and shares that are not accepted
99% acceptance. Enjoy the gains.
2 Likes