- They want to reduce the number of shares in the open market.
- The company feels that the share price is undervalued.
- To improve the Company’s Shareholder values.
- To Boost share price in the open market.
- The company has Additional Cash in Hand.
To be a part of buyback shareholder might be presented with a tender offer when he or she needs to submit all or a portion of the shares within the given time frame. Companies repurchase the shares from the open market and over the time frame at a certain time or at regular intervals. Company buyback shares with cash in hand or can fund buyback by taking debt as well. Check out the latest share buyback in 2021 with buyback price and record date.
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Share Buyback Offers 2021-2022
| Company | Record Date | Buyback Price | Buy Back Opening Date | Buy Back Closing Date |
|---|---|---|---|---|
| eClerx Services Buyback | NA | Rs. 3200 Per Share | Update Soon | Update Soon |
| Balrampur Chini | Open Market | Rs. 410 Per Share | 17-Aug-2021 | 16-Feb-2022 |
| R Systems | 27-Aug-2021 | Rs. 225 Per Share | Update Soon | Update Soon |
| Shriram Pistons and Rings | 12-Aug-2021 | Rs. 1020 Per Share | Update Soon | Update Soon |
| Tanla Platform | Open Market | Rs. 1260 Per Share | 29-July-2021 | 28-Jan-2022 |
| Gandhi Special Tubes | Update Soon | Rs. 550 Per Share | Update Soon | Update Soon |
| Navneet Education | Open Market | Rs. 100 Per Share | 07-Jun-2021 | 06-Dec-2021 |
| Infosys Ltd | Open Market | Rs. 1750 Per Share | 25-Jun-2021 | 24-Dec-202 |
| Welspun India | 26-May-2021 | Rs. 120 Per Share | 22-Jul-2021 | 05-Jul-2021 |
| Infobeans Technologies | 07-May-2021 | Rs. 232 Per Share | 08-May-2021 | 21-May-2021 |
| Insecticides (India) | Open Market | Rs. 575 Per Share | 12-Apr-2021 | 11-Oct-2021 |
| Quick Heal | 03-May-2021 | Rs.245 Per Share | 31-May-2021 | 11-June-2021 |
| Aarti drugs | 01-Apr-2021 | Rs. 1000 Per Share | 27-Apr-2021 | 10-May-2021 |
| SIS Limited | 09-Apr-2021 | Rs. 550 Per Share | 12-May-2021 | 27-May-2021 |
Who can apply for Buyback offers?
There are different requirements for buyback of stock which vary with residential status:
- If you fall under the category of Resident Indians and HUFs, you can apply for share buyback if you have registered with HDFC securities Ltd for online trading and investment transactions.
- If you are a Non-Resident India with PIS NRO account and PIS NRE account, you can bid in individual category for the stock buyback issue in case you have received a tender offer letter from the company or RTA to participate.
Can customer modify the orders?
Yes, customers can modify the buyback orders.
- Lower Modification: In this case, the additional buyback shares will be on hold till settlement.
- Upper Modification: In this case, you will have to place a new buyback order for the additional shares.
Can customer cancel the orders?
Yes, customers can cancel the order. However, they can cancel the buyback orders only before the end date of the issue. There shares will be released after the settlement cycle is over.
How will the funds payout happen?
Funds payout for buyback issue will be directly credited by the exchange in respective bank account of the customer.
In case of failure of payout by exchange, HDFC securities Ltd will make the payout deducting the brokerage and statutory charges levied which will be the final payout to the customer.
In this case the exchange directly credits the funds payout successfully, HDFC securities Ltd will debit the charges of brokerage including all statutory charges as per contract note.
Another case of NRI customer, funds payout for buyback issues is received by HDFC securities ltd from the respective exchanges. Post deduction of brokerage, statutory levies the same is credited to respective NRI customer’s relevant linked HDFC bank account by HDFC bank after deducting the TDS.