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1 Comments

1. Vantage

| Link|February 23, 2022 3:01:09 PMReply

ADMIN/ chittorgarh team , Thank you for making good FAQs

I want to Request you to please add the following FAQ since we are fresh in our minds

Question : How is the buyback price arrived at for Retail category in Buyback ?

Ans:
Till now, i am getting to see mixed responses from users, its either -
a. Max Transactions on the record date OR
b. Price at the start of the EX-Date 22nd Feb OR
c. something altogther different.

What exactly is the answer to this much sought after question, i think if we have this in black n white , it will avoid lots of confusion esp for upcoming buybacks

Load more comments (9 replies)

1.1. Ou Ai

| Link|February 23, 2022 4:57:27 PM

Please check my reply in 162.9 below.

1.2. Vantage

| Link|February 24, 2022 1:39:06 AM

Yes but also in 163.1 you have yrself pointed (rightly so,btw) that how could tcs come up with a price BEFORE the record date !

So when is it decided ?

1.3. Ou Ai

| Link|February 24, 2022 3:37:05 AM

@Vantage
Repeatedly informed that price at on23rd EOD (record date) as in 162.9. Not sure why this query lingers again? 163.1 was a query for another posting by someone who came up with an extract followed by the price. You must ask the person who posted. It is not issued by TCS!

Now that date is over , we can rest it at that.

1.4. Vantage

| Link|February 24, 2022 6:11:43 AM

Yes the query is lingering because the tcs price was never anywhere around the 3750 price on the 23 rd Feb (record date) !

1.5. Team Chittorgarh.com

| Link|February 24, 2022 9:20:26 AM

Dear Sir,
We are looking in to this. We will update once we have complete informaition.

1.6. Team Chittorgarh.com

| Link|February 24, 2022 9:50:08 PM

Dear Members,
Here is the detail explanation of Buyback price and maximum shares to qualify for retail (small shareholders) category.

1.7. Vantage

| Link|February 24, 2022 10:30:43 PM

ADMIN/ Team chittorgarh :

Elated by your response , Many thanks !!
Was looking at the NSE stock exchange data for TCS on 23rd feb

DATE SERIES OPEN HIGH LOW PREV. CLOSE LTP CLOSE VWAP 52W H 52W L VOLUME VALUE NO OF TRADES
23-Feb-2022 EQ 3,611.00 3,622.90 3,555.65 3,586.40 3,571.90 3,563.80 3,581.54 4,043.00 2,880.00 24,26,203 8,68,95,49,721.75 1,66,091
I was checking on the difference between the LTP (last traded price) and CLOSE (price at the time of closing) i thought it should ideally be the same, but it looks like Closing price is determined by taking weighted avg of last 30 mins of trades that occur on the exchange. so hence the difference. Thanks , i got to learn sthg new tdy because of you.
Shouldn't both be the same ?

1.8. Vantage

| Link|February 24, 2022 10:36:17 PM

as per the website, the LTP was 3,571.90
But yr article mentions Closing price shd be taken , which is a different figure, ie 3,563.80 ... "So , should we just take LTP of the scrip as on record date on an exchange that had higest volume as a definition"?!

When will this end :-(

1.9. Team Chittorgarh.com

| Link|February 25, 2022 9:31:27 AM

Dear Members,
Thank you for your kind feedback.
We identified the error in calculation. We are working on to update this asap.

1.10. Team Chittorgarh.com

| Link|February 25, 2022 1:17:27 PM

Thank you Vantage for reporting the error. The error is now rectified.

Its 56 shares as per our calculation.

The information on this page and the Buyback Price Calculation & Maximum Shares for Retail Category is now updated.

1.11. Vantage

| Link|February 25, 2022 1:52:44 PM

1) I see that the record date price is now changed to
from 3,571.90 -> 3,563.80 (also,its not a big change,so the number of total shares dont change)

2a)But then there is one last change which i think we should still do viz. change this line in this page itself -
"As on the Record Date, the closing price on NSE, being the Recognized Stock Exchange having the highest trading volume, was Rs 3,571.90 per Equity Share. Accordingly, all Eligible Shareholders holding not more than 56 Equity Shares as on the Record Date are classified as 'Small Shareholders' for the buyback offer."

as it mentions the older value of 3751.90.
2b) On the buyback price caluclation link , also repharsing needs to be done
"TCS shares closing price on 23 February 2022 (record date) at NSE was Rs 3,563.80 and at BSE was Rs 3565.30. Since the trading volume of TCS is higher on NSE for that day, the number of Shares as on Record Date to qualify as Small Shareholder comes to 56 shares (200,000/3571.90 with fractional value ignored)."
to mention 3,571.90 -> 3,563.80

3.Lastly and most importantly , So the definition is "
" we just take CLOSING PRICE viz 3563.80 of the scrip as on record date on an exchange that had higest volume as a definition"