How can I participate in BUYBACK?
1. You need to block the shares in favour of your broker as per specific settlement by calling on 022-48934000 or write to firstname.lastname@example.org (Provided you have trading + demat with us) If demat is not with us, kindly request for details for early payin.
2. Broker offers your shares. In buy back it’s at a fixed price
3. On settlement date pro rata/ entire offered quantity is accepted by company
4. You get Gross amount (= buy back price x accepted quantity)( no TDS, no STT , no brokerage and other charges) Directly from the clearing corporation
5. Broker will raise a contract of the sale with the debit amount of the STT, brokerage and other charges. You settle this from your existing credit , if any or remit the amount to the broker
6. You pay tax as per your holding period.