You or retailers cant participate in this type of buyback where you cant tender your shares. Company purchases the shares directly from the market using brokers -whoever selling at current market they may be absorbing it.
This buyback is just an eyewash. Company is purchasing through open market. The buyback price was declared very high so many people jumped and bought stock around 170-160 and holding for better rates , but market rates slumped now stock is trading at 140+ levels. Company is buying from open market and retail investors are looking exit ways. Once buyback is over there won't be an exit at 140 level also it will trade below 120, just my view, no one knows the future.
@Admin: This buyback is still active but new comment is blocked. Is that a bug on feature? I just found the buyback details hard way by extracting data from all the pdf IEX site has on its site. Strange that total shares bought is much less at 52,77,120 based on extracted data than 64,54,198 reported on latest 11th march pdf on its site.. Total amount spent on buyback is 73,59,99,152.5 as per my extracted data. (I have full spreadsheet image but could not find how to upload)
Found I had missed processing some file. correct result is here:
I have extracted data from IEX website and here are the details: Total Shares Purchased: 6454198 Total Amount Paid For Purchase: 90,32,55,500.10 Average Cost Of Purchase: 139.95 So only 7.67 crore left for purchase which should last 3.5 day or say up to next week.
Kindly help.