One can purchase the shares of S H KELKAR Co Ltd (Keva) at the CMP for tendering for buyback. Record Date is 12/11. CMP is around Rs.145/- and the price of the buyback is Rs. 210/-. You will definitely get a reasonably good profit. I hope that the ER will be around 6% and AR around 13% to 17%. Chances of much downfall in the price of unaccepted shares after the buyback are very less. Thank you.
I missed good opportunity in goldiam, I will try in this. Luckily my eclerx came above my buyback price. Hope it will stay above 2300 after unaccepted buyback shares are credited back in demat also.
Thank you very much @lokes for sharing thi s. Please tell in how many days will shares be accepted by the company and unaccepted shares will be returned within how many days after closure of issue. After record date how much time company takes to open issue .
All these details will come when actual buyback opens and buyback dates are announced, like for eclerx buyback was open from 18th oct to 1st nov for tendering shares means till 1st nov we can tender shares or till when broker allows, like zerodha usually allows 1 days before. And last date for finalization of buyback was 8th/9th nov so during 8th/9th, we will come to know about final AR and in 1-2 days money comes in bank account say 10th nov and mail also comes usually from registrar for buyback acceptance and contract note comes from broker like zerodha and unaccepted shares comes back in demat in 1-2 days say 10th/11th nov. After record date, its upon company to company, when they open the issue. In eclerx, record date was 30th sept and buyback opened on 18th oct so it may be anything between 15 to 30 days approx.
@lokes thank u very much ....You had done a great for new bies like me ...I will participate in upcoming buyback and then I will get more clarity......If after record date I buys more share of that buy back company then it will not be able to sell those additional shares untill acceptance of buy back shares ...as Shares are sold on FIFO basis ?
@have faith: there is nothing like FIFO etc. Buyback eligibility is as per shares held on record date. Like shareholder category in IPOs. After record date, you can sell existing shares, buy new shares can do anything anytime. It's just before tendering in buyback when it opens, that time whatever number of shares you want to tender in buyback, you should have those in your demat obviously that time. No matter you bought them 2 days back or those are same shares shares which you bought before record date. Simple.
Regarding cartrade, I missed to buy that day to avg and didn't do after that and yes it's becoming big headache and market also not supportive now.