The board of Bajaj Auto Limited had granted approval for a buyback of 40,00,000 equity shares, with a combined value of up to ₹4,000 crore, priced at ₹10,000 per share. You will be eligible for buyback if you have bought shares before the record date. Please find the company announcement here.
| Buyback Type | Tender Offer |
|---|---|
| Buyback Price | ₹10,000 per share |
| Buyback Size | 40,00,000 shares |
| Record Date | To be announced |
| Opening Date | To be announced |
| Closing Date | To be announced |
| Credit of Buyback OR Refund of Shares | To be announced |
| Entitlement Ratio (Retail) | To be announced |
What are the available categories for submitting shares in a buyback offer?
Shares can be tendered in the buyback through two distinct categories: Retail and General. The determination of the applicable category is based on the value of shares held in the demat account as of the designated Record Date. Shareholders with holdings valued at Rs. 200,000 or below will fall within the Retail category, while those with holdings exceeding Rs. 200,000 will fall into the General category.
I possess shares in the company, but these shares are currently pledged. Can I still participate in the buyback program?
Yes, even if the shares are currently pledged, you remain eligible to participate in the buyback. However, it’s important to note that only unencumbered (free) shares can be submitted in the buyback. Therefore, you will need to release the pledged status of the shares before the buyback order window concludes in order to tender them for the buyback.
What is the procedure for tendering shares in the buyback program?
It is not necessary to have a Power of Attorney (POA) in order to submit shares for the buyback. To participate in the buyback, you can authorize the process by using CDSL TPIN and OTP for authentication.
I had sold the company’s shares subsequent to the record date. Can I still participate in the buyback offer?
Indeed, since you were in possession of the shares on the record date, you maintain eligibility for the buyback. However, in this specific scenario, you will need to procure shares from the open market and subsequently submit them for the buyback.
Am I allowed to tender a greater number of shares than my entitled amount?
If you opt to submit more shares than your designated entitlement, the acceptance of these additional shares within the buyback will be contingent upon the acceptance ratio determined by the company. Any shares that are not accepted will be re-credited to your demat account by the Registrar and Transfer Agent (RTA).