I doubt this. Please note Entitlement Ratio was more than 25% and total share available for Retail investor in buyback was 15% of total buyback, which is 6 lakhs share. So maximum number of shares available with retail investor should be around 24 lakhs.
Figures are actual as taken from NSE and BSE Websites. Might be HNI Tendered shares are also included. In that case Retail AR may improve significantly. Let's wait and see.
From total individual investors, most past buybacks have around 20-40 percent retail investors; the remaining are HNI. If we go with that assumption, the acceptance ratio will be between 45 to 85 percent. On average, we can expect at least 60+ percent acceptance.
NSE - 852543
BSE - 2505061
Total - 3357604