Feedback Message Board

Sold 37@3710. Another 37 are still waiting in another account

Accepted shares per tendered shares is in the below table, when all buyback eligible shares on record date were tendered and from single Demat account only

1 to 7 - 1
8 to 12 - 2
13 to 16 - 3
17 to 20 - 4
21 to 24 - 5
25 to 27 - 6
28 to 32 - 7
33 to 36 - 8
37 to 41 - 9
42 to 44 - 10
45 to 47 - 11
48 to 50 - 12
51 to 54 - 13
55 to 56 - 14

Additional ratio for non entitled shares is around 11.5%. Ignore anamolies due to excess shaded distribution like it happened in 50 shares, accepted 13 for some and only 12 for some.

@host…2/6 very lucky you are. That’s due to excess shares distribution i think

for my icicidirect, 4 out of 10 are accepted, for zerodha 2 out of 9 are accepted. I have 10 in kotak securities, not sure how many are accepted from there, the count is not reduced in kotak securities.

Total Individual investors tendered 6.5cr shares. Anyone any idea from prior buybacks experience about What % of this would be by small investors under 2lk category? 30% or 40%?

Total individual shareholding as of 31st Dec 2021 was 3.83%. As of record date, small shareholding was 1.1%. based on this, we can assume around 30% retailer applications out of 7 Cr so for. Hence, it we extrapolate this figure, retail acceptance could be in the range of 25% to 30%.

Final figure will come only when we see money credited.

@Pramod…good analysis bro. Even I’m expecting 25-30% AR as small investors held 4.1cr shares on record date. and currently total individual investors tendered 7.1cr shares and assuming 30-35% are small investors

TCS retail BB shares = 60L
Retail total shares = 430L
So ER= 60/430=14%
Expected Tendered shares = 200L
Acceptance Ratio AR= 60/200=30%
Expected Entitled shares tendered =40L

Entitled shares not tendered which need to be bought from investors who tendered shares more than their entitlement =60-40=20L

So 20L shares to be bought from (200-40)=160L
So Additional ratio or say Factor= 20/160=12.5%

Eg. I hold 49shares on record date and got 7 shares entitlement. If i tender:

1) 15shares: 7+ 8*12.5%=7+1=8 shares accepted
2) 31shares: 7+24*12.5%=7+3=10shares
3) 49shares: 7+42*12.5%=7+5=12 shares accepted

@IPOstonks...Individual investors tendered 2.11cr in BSE and 0.72cr in NSE. So total 2.83cr @ 1.45pm today. i'm not sure if individual investors means below 2lk (56 or below shares on record date). Experienced members in Buyback process can give more clarity on this

@sdz you are correct i was watching figures from NSE only, thinking it will consider from BSE too. You are correct.

Individual Investors tendered 2.7cr shares till now, which is almost 4x of 60L shares buyback quota for retail investors. So Acceptance Ratio is going to be less than 25% :(

So only hope for investors who didn't tender shares yet like me is... share price to jump quickly this week itself to 4500rs ;)

Very very pathetic to see, bse or nse data on buyback subscription data is good for nothing.. no one knows what is retail or NII split.. it will take years for nse or bse to understand what they are doing...

@Amit…Eaxctly, what is the use of that buyback data when it not divided as per true requirement. In IPO, we apply selecting retail or NII and so they easily segregate. Similarly for buyback too, they should provide option to select Retail (under 2lk) separately as they were not able to generate it directly

Entitled ratio ER= Total Buyback Retail shares/total retail shares holding on record date

Acceptance ratio AR= Total Buyback Retail shares/total retail shares tendered

So ER is just an indicator ratio and doesn’t have any effect on AR. Buyback seniors please correct if wrong

If no of shares tendered are based on ER( no of shares entitled by tcs) would all be accepted ? or would the number of shares will be less than the ER entitled shares in this case?

ER 14% on 0.60cr shares through retail buyback means about 4.3cr shares (1.16% of total shares) are held by retail shareholders on record date.
Now AR depends on how many out of these 4.3cr shares will be tendered by 23Mar. I think many investors will sell non-entitled shares in open market if share price doesn’t cross 3,700 by 23Mar, as there will be further downward pressure after tender period close.

Settled with just 2*49 shares though had chance for 7*49 as somehow felt risky of low AR and falling share price. Hope minimum 50% AR and share price stays above 3500 as i bought just for buyback purpose 😀

If closing price on record date 23rd Feb is below 4,000 then holding 50 shares also be considered as retail category? Or only 44 or below shares will be considered as retail?

If that is the case, holding 50 shares will be considered under Retail Category only.