Feedback Message Board

Sir any idea about AR in Retail?

Sir,
No idea. Sorry for disappointing you.

KSRK Sir Ji,
You are like my mentor and I can definitely say that you have more experience than me in this market and moreover you are my elder. So I request you kindly don't use words like Sir and sorry for me.

I wish I always get your guidance and wisdom in the future. And I really want to meet you face to face whenever you visit India so that I can have your blessings!

50% accepted in retail

Dear Ayush Jindal,
Thank you for your kind n affectionate words. Blessings will always be there to you even if we don’t meet in person. I am a resident of Hyderabad only. Thank you n all the best in all your deeds.

Sachin ji,
Thank you very much for your kind response.

89/180...way better than expected. thank you.

Unknwon ji,
Congratulations.Good going. All the best. In my case, due to unexpected price raise on the Record Date, my holdings considered under General Category. Thank you.

@KSRK Ji

I wholeheartedly wish that we see the same rise in price soon and sell the shares on good profit. God Bless.

Regards

Unknwon ji,
Hopefully looking forward. Thank you.

How it is possible? 13/200 Can you please explain

55.24% (1.81 times) is in Small Shareholder category
26.24% (3.81 times) is in General Shareholder category

Please check this filing - https://www.bseindia.com/xml-data/corpfiling/AttachLive/21fb5e03-b191-4126-88c6-67a182b84679.pdf

For your information, I have 4 shares with 0 ER and have a 50% buyback ratio as small shareholder so I am totally confused.

Sir,
I was holding 200 shares as on the record date. On that day, the price was raised to more than Rs.1000/-.Hence, my holdings are categorised under the general category as the value increased to more than Rs. 2 lakhs. Only 13 shares are accepted and 187 shares are credited back to my Dmat account. I hope you have followed. Thank you.

I understand you fall in General Category but AR is 26.24% (3.81 times) so you must have gotten 52 shares buyback not 13.

Sir,
I don’t know why it happened to me like that.

I suggest you to please check the email received from goldiaminter.buybackoffer@linkintime.co.in which shows the entitlement ratio along with the order email which you have placed on the exchange.
Also, you can complain to Linktime for the correction of buyback.

Sir,
Thank you for your concern. While intimating the ER also, they have shown my holdings as 200 shares as on the record date and 3 shares are shown as entitlement. In the post buyback mail, it was shown 13 shares as accepted and 187 shares as unaccepted. I have seen the mail you have referred to wherein the AR is around 25% for General Category. My past such experience has not yielded any fruitful result stating that the buyback process is already completed. Hence, I believe that it is of no use even if the registrar/ Manager of the Buyback is addressed in this regard.
Once again I wholeheartedly appreciate your kindness in sharing your views.

Sir, my query, their reply and my response are as under. Please guide me what I have to do further.
Sir,
On seeing the post buyback communication sent to the NSE and BSE by the company, I have noticed that the acceptance in general category is around 25%. But only 13 shares are accepted out of the 200 shares held on the record date and tendered for the buyback. 187 unaccepted shares are credited to my Dmat account.
Please verify and do the needful to rectify the irregularity and accept the due shares in consultation with the broking agent i.e., ICICI SECURITIES (303028-66257294)
Hoping for an early response and favourable action from your end.
Thank you,
Yours sincerely,
SYAMALA DEVI KAMMA
DPID. IN 303028 DP 66257294
of ICICI SECURITIES

Dear Investor,
Please note that in case there are any Equity Shares left to be bought back in the General Category, the Additional Equity Shares tendered by the other Eligible Shareholders over and above their Buyback Entitlement are Accepted in proportion of the Additional Equity Shares tendered by them and the acceptances per shareholder is made in accordance with the Buyback Regulations, i.e. valid acceptances per shareholder will be equal to the Additional Equity Shares validly tendered by the Eligible Shareholders divided by the total Additional Equity Shares validly tendered in the General Category and multiplied by the total pending number of Equity Shares to be Accepted in General Category.
Regards

Sir,
Where is the question of accepting additional shares? I am talking about initial short acceptance only. Furnishing some reply without properly going through the query speaks volumes of your callous n negligence. Please verify once again and let me know why only 13 shares are accepted against my holding of 200 shares as on the record date.
SYAMALA DEVI KAMMA
DPID 303028 66257294 of ICICI SECURITIES

“their reply”may please be read as “Linkintime’s reply”

KSRK Ji,
I would say keep the fight on...these issues takes time but gets resolved.
In case its still not resolved, pls complaint to sebi. the process is as per the link https://investor.sebi.gov.in/inv-grie-redre.html.
Frankly, i personally don't have any experience with this SEBI complaint system, but I would done the same as I mentioned above in case of an issue like this.
Wishing you luck here, Regards

Unknwon ji,
Thank you very much for your kind concern n advice. I will definitely pursue till I get proper response.

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