Buyback of Securities


DOs

Read the special resolution regarding the proposed buyback in detail and then vote for it

Compare the price offered in the buyback with the market price during last few months as also with the company’s Earning per Share, Book Value etc. and then determine whether the price offered is reasonable

Read the instructions for making the application for tendering of shares carefully

Ensure that your application reaches the collection centre within the prescribed time

If you don’t get the letter of offer within a reasonable period, contact the concerned Merchant Banker

Mention all details as required in the letter of offer legibly

Furnish all the documents asked for in the letter of offer

Send application through the mode (post/courier/hand delivery/ ordinary post etc.) specified in the letter of offer

Contact Merchant Banker if no response is received from the company regarding consideration for tendered shares within the stipulated time

Contact Compliance Officer mentioned in the letter of offer in case of any grievance against the company

Issue cheques/drafts in trade name of the broker only

Contact the Registrar of Companies in case you feel that provisions of the Companies Act have been violated

Contact the Merchant Banker in case of any grievance against the procedure followed in the buyback

DONT's

Don’t submit multiple applications

Don’t forget to fill up the application legibly

Don’t mutilate the application form

Don’t cross/ cut in the application form

Don’t send the application form to a wrong address

Don’t send the application form after the close of offer

Don’t forget to give complete information in the application form

Don’t forget to sign the application form

Don’t give wrong/ contradictory information on the application form

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