Piramal Enterprises Limited Buyback 2023
Piramal Group is a global business conglomerate with diverse interests in pharma, financial services and real estate. The Group has offices in over 30 countries and a global brand presence in more than 100 markets, and operates with over 10,000 people worldwide from 21 diverse nationalities.
In over three decades of its existence, Piramal Group has pursued a twin strategy of both organic and inorganic growth. Driven by its core values, Piramal Group has strived for inclusive growth, while adhering to ethical and values-driven practices.
Piramal Enterprises Limited (PEL) is one of India’s leading diversified non-banking financial companies (NBFC) with assets worth ~$10 billion, with a network of over 400 branches across 26 states/Union Territories, offering a wide range of financial products and solutions across retail and wholesale lending, fund-based platforms and investments.
Buy Back Offer Deal:
| Buyback Type: | Tender Offer |
| Buyback Record Date: | Aug 25 2023 |
| Buyback Opening Date: | Aug 31 2023 |
| Buyback Closing Date: | Sep 06 2023 |
| Buyback Offer Amount: | ₹ 1750 Cr |
| Date of Board Meeting approving the proposal: | Jul 28 2023 |
| Date of Public Announcement: | Jul 28 2023 |
| Buyback Offer Size: | 5.87% |
| Buyback Number of Shares: | 1,40,00,000 |
| Price Type: | Tender Offer |
| FV: | 2 |
| Buyback Price: | ₹ 1250 Per Equity Share |
Details of Buyback:
Salient financial parameters:
| Particulars (In Cr) | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 |
| Revenue | 10,631 | 11,883 | 13,068 | 12,809 | 7,726 |
| Interest | 2,978 | 4,100 | 5,321 | 4,209 | 4,225 |
| Expenses + | 5,471 | 5,264 | 6,801 | 5,338 | 1,984 |
| Financing Profit | 2,182 | 2,519 | 947 | 3,263 | 1,516 |
| Financing Margin % | 21% | 21% | 7% | 25% | 20% |
| Other Income + | 260 | 198 | 1,555 | 754 | 963 |
| Depreciation | 477 | 401 | 520 | 561 | 74 |
| Profit before tax | 1,964 | 2,316 | 1,982 | 3,456 | 2,405 |
| Tax % | -146% | 37% | 99% | 59% | 17% |
| Net Profit + | 5,120 | 1,464 | 21 | 1,413 | 1,999 |
| EPS in Rs | 250.81 | 70.26 | 1.07 | 59.08 | 80.57 |
| Dividend Payout % | 9% | 35% | 1314% | 56% | 41% |
How to Participate in buyback?
Profit from the buyback on the bases of acceptance Ratio:
| Acceptance Ratio | 33% | 50% | 75% | 100% |
| Amount Invested in Buyback | 1,71,680 | 1,71,680 | 1,71,680 | 1,71,680 |
| No. of Shares Buyback | 53 | 80 | 120 | 160 |
| Buyback Profit | 9,381 | 14,160 | 21,240 | 28,320 |
| Profit% | 5.46% | 8.24% | 12.37% | 16.50% |
218 Comments
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Payment received today for accepted shares
Have you received funds in your bank account for the accepted shares??? Because today is the settlement day
Just saw that amount has been credited in my bank A/c for 44 out of 165 shares that were accepted.
ohh, that means I should expect the money by tonight
Yes money received
Yes received today.
Market has fallen and PEL acceptance ratio is far below the expectation. It appears in short term i.e. this week the stock may reman in pressure, specifically as most of the retailers who have specifically bought for Buyback would take exit. For mid term the stock may go below 1020 in adverse condition or market fall. But if you want to keep for long term, hold it convincingly, it would surpass the returns of index.
What is the acceptance ration Sumit ji. I am holding 80 shares. When will be unaccepted shares credited to my account
Sumit ji,
Thank you very much for your kind views with analytical reasoning.
Got the debit message today for shares in the morning from cdsl. When can we expect the unaccepted shares to be credited back. As the share price has fallen a bit would experts recommend holding the unaccepted shares or sell them after the credit.
How many shares were accepted?
44 out of 165 shares were accepted
Have you received funds in your bank account?
I have received the funds in my bank account and the remaining shares have also been credited in my demat account.
Did any one received any communication from Zerodha for Buyback? I have no information nor demat credit nor fund credit from Zerodha!
Me neither..Not sure how so many people got the message of accepted shares. I haven’t got any cdsl debit message or email. Neither Zerodha nor cdsl nor Linkin time confirming that…What am I missing here?
Please don’t worry about shares being not credited back. It is only a matter of time. Will most probably be in the respective portfolios tomorrow,if not today. Anxiety is warranted only if not credited even tomorrow.
Yes
All is well. 42/155 27%
48 Shares Accepted against 180 Shares
Retail Acceptance Ratio remained at 26.67%
Yes 48 out of185
Poor acceptance ratio
Any idea about Hni
No
63/372.
How to find this data?
How to find this information?
Exactly same here.
Sorry, it was exactly same as in the case of INDRA JI.
How do you know to early sir where do you find this data of ar!??
Pp check order book or trade book in your trading account u will get these details
Pl*
Hello,
Any update on Pel retail AR.
13th
I have only 1 share in Demat Account. I received mail informing not entitled for buyback. Even though I applied for buyback and my share is not bought back. When buyback size is large (5.87%), why my share is not entitled for buyback? Experts please guide..
AS PER MY CALCULATION AR IS COMING AT 33.15 % FOR PEL. WILL BE HAPPY IF AR GOES ABOVE 40% OR EVEN COME CLOSE TO 40%
Can u tell me one thing, I had 50 shares in my demat, I applied 25 for buyback. So if AR is 40%, does it mean 40% of my whole holding that is 20 shares, or 40% of applied shares only. That is 40% of 25 = 10
@commander
AR counts on applied shares.
Assuming 40% AR
Your holding 50 shares. And u apply 25 shares thn
25 – 7 = 18 shares extra applied other thn ER. So 18 × 25% = 4
So 7+4 = 11 accepted from 25 applied
Why did you take 25% of extra shares
And can you also tell if had I applied 50 shares for buyback, how many would be taken in that case
1. AR counts after deducting ER%.
2. 50 shares 40% AR means 20 shares accepted
Not exactly same as this.
May it plus-minus 1-2 shares
Accepted shares will be 25% of tendered shares but minimum shares accepted will be Entitlement, if tendered.
As per my calculation and assuming subscription on proportion basis AR may remain close to 46%
Piramal final BSE + NSE – 1,21,596 orders
Expected AR 37-49%
Hello members
What will be the expected AR in retail category?
Ar will be up to 60%
AR FOR PEL WILL BE CLOSE TO 40%
Hope for the best👍
I applied for buyback of shares but they are still not deducted from my portfolio.
Is anyone else facing same problem?
Neither did I receive any email for bid for piramal buyback but I did receive the mail for fdc and indiamart buyback
I think AR will be Around 55-65%.
How u calculate this
Yes I too see AR at around 45-50
Sumit ji,
I take this opportunity of “ Teacher’s Day “ to express my hearty congratulations n thanks for your kindness in making valuable contributions through your humble, hardworking, critically analysed, well knowledged, experienced n priceless views. I admire your service oriented approach in sharing without any hesitation what you have learnt. Pranaamams to your broad mindedness in continuing your selfless service. Hats off to you. We are all fortunate to have you n are indebted to you. Your will power cannot be overtaken by any evil. That’s your own character. God blesses you all with good health, wealth n happiness always. Thank you once again. Love you.
I whole heartedly endorse the views,opinions and comments made by SRK Ji.I am also appreciating SRK JI for expressing his gratitude which is very rare in modern times. Missing Rohit Ji now a days. I hope he will return to the zone soon
Thanks so much for rembering me. Just being busy with the work these days. Also, I have recevied advise from couple of SEBI expert, if someone give the advice without monetary benefits it will not come into the ambit of SEBI IA Rules. So, I will start giving my views again from tomorrow. Will try to make a 30 minute slot in my day to respond to the queries of the members. Thanks
I like to thank all the members of the forum and special thanks to Umesh for making this portal 🙂
Thank you for the information/ clarification and your prompt reappearance Rohit Ji.
SRK ji,
I am extremely honored by your kind words. I humbly appreciate your kindness and doesn’t feel myself so much able.
I also consider your views and will to help the board members whole heartedly as highly commendable.
May also God bless you and other board members.
Again, thank you.
Yes I fully subscribe to your views.
Current Subscription level of Buyback suggesting high AR, of the order of 60-70%. Still 2 days are there, lets see on 6th evening. Share performing appreciably at the moment, although not able to break 1100.
At 6-7 PE it is one of the cheapest share.
Experts any advice?
Yes looking good lets see last day. As zerodha place orders on last day 6th September.
Order received percentage of total retail holders
Indiamart – 32%
Piramal – 22%
Krbl – 26%
Where do you find the figures for Bids by Reserved category or retail investors? Please inform.
Please check at nseindia.com/ market-data/all-upcoming-issues-ipo
remove space between / and market while putting link.
Hye…can u share today’s data similar
Hye can u send todays data
I got number of orders recieved on website BSE and NSE.
No separate retail and general category information available.
Sure. In evening will share final closing data
Sumit ji
Now trading at RS.1116/-. That’s why we admire your valuable contributions. Please keep posting your kind views to help the readers like me. Thank you once again. God blesses you with all the best.
i m expecting 30% only as 1.5cr shares have been applied
When shall we know acceptance ratio after closure of PEL buy back on 06.09.23?
12-13th September
Got a corrigendum email from PEL – the first time I’ve seen for any buyback. Now entitled to 36/372 shares (earlier was 19). Is it due to taking into taking into account the fact that promotors aren’t participating, or something else?
Answering my own question – yes. The mail had the link which states that – https://linkintime.co.in/website/GoGreen/2023/Update/Piramal_Enterprises_Limited_Buyback/Project_Jubilee_Corrigenda_II_Sep_1_2023_Circ.pdf.
i have 150 shear in record date i sold 75 shear after ex date if i tander 75 shear then i will get banifit of 150 shear or 75 shear if ar is 50% then how many shear will aceptid
@raj kumar if holding 150 shares on record date but you apply 75 shares thn.
( 75-22 = 53 × 35% = 18 )
Means total 40 will be accepted out of 75.
Calculation as per if AR is 50%.
All Eligible Shareholders holding not more than 188 (One Hundred and Eighty Eight) Equity Shares as on the Record Date are classified as ‘Small Shareholders’ for the purpose of the Buyback.
It should be considered retail. You can the email for the ER. From that you will know which category you were considering.
I have PEL shares as on Record date in below 3 accounts.
1. 183 shares
2. 173 shares
3. 173 shares
Which of them will fall under Retail category for buyback?
If its the same PAN, you’ll be classified under the general category.
I have 379 shares of PEL and my entitlement is 20 shares. What is the likely acceptance ratio? Should I continue to hold or exit. My average purchase price is 728. Please advise
Though I am not an expert, I wish to share what I understand. Please tender all the shares held on the Record Date to get the maximum benefit.
It should be considered retail. You can the email for the ER. From that you will know which category you were considering.
Hello experts, what will be expected AR ? more then 50% ?
https://web.linkintime.co.in/Offer/Default.aspx
Piramal buyback entitlement check link
I didn’t get any mail of buyback, ( Applied in zerodha and angel broking)
I did sold the shares on record date
Check linkintime/ buyback by entring pancard. https://web.linkintime.co.in/Offer/Default.aspx
I got entitlement about 19 shares against 128 shares held on record date
My doubt is if I tender only for 19 shares , will company accept 19 shares? Or less than that?
If you apply 19 shares.. thn definitely 19 accepted.
I suggest you to tender all the shares held on the Record Date as acceptance ratio will be higher than the entitlement ratio or even in worst case, equal to the entitlement ratio. All the best.
Suppose I sold my shares on record date. I was holding 140 shares on record date and 20 shares are shown as entitled. If acceptance ratio comes out to be 30% then will I need to buy 140 shares again and then tender all 140 or buying 52 shares and then tendering it will also work?
Yes, any number upto the number of shares held on the record date may be considered for buyback.
Entitlement Ratio depends on the number of shares held on the Record Date whereas Acceptance Ratio depends on the number of shares held on the Record Date and submitted for the Buyback. Unlike ER, AR will be known only after tendering of the shares for the Buyback. So the question of buying and tendering of shares after knowing the Acceptance Ratio doesn’t arise. I hope that this helps in understanding what is ER and the AR.
My question is suppose after buyback the acceptance ratio comes out to be 50% and I only tendered 70 shares before buyback closed date then
1. 50% of 70 shares will be considered only for buyback or
2.the number of shares I held on record date i.e 50% of 140 shares = 70 and since I also tendered 70 hence 70 will be accepted?
all the 70 shares will be accepted if you were eligible for 70 share (ER).
Darpan.
Number 1
If u apply half of your holding thn acceptance will be on applied shares. 50% of 70 shares as u said 70 apply.
Hello,
Can anybody provide the link where I can see the offer letter. In link intime they show only blank pages
You will receive mail today or tomorrow
Check on trendlyne or bse website
Mohsin kindly guide how to check on Trendlyn n bse
https://m.bseindia.com/MAnnDet.aspx?newsid=6D27B142-D906-4138-A280-6588C40EF789&Form=STR
14.89% ER
31ST AUG O
TO 6TH SEP TENDER WINDOW
Pel buyback opens on 31 August n closes on 6 Sept.
Anybody knows the ER?
Near 15% for retail
Around 5.1% for general.
Yes but for general Category it must be around 10%.
Any particular reason for this Fire in PEL after ex date? something is cooking inside.
*being cooked
Isn’t it going to be delicious? Smells very good to me.
It is if you aren’t hedged. I was hedged.
But it will improve AR drastically.
Holding less than 188 Shares will come in Reserve Category.
Relife for those who have holding between 180-188 Shares.
HOS- Forwarded Message
*PEL Buyback: Important*
If anyone has purchased 180 shares for buyback, and if today’s closing price is above 1111.11, then the value of shares will be more than 2 lac, hence, will not be eligible for Retail Quota Buyback.
The only option available is to transfer shares from DP through Off Market, by DIS or Online.
Fire of PEL price is get extinguished and now trading at 1057 again. Great relief
If someone is going Full force in PEL, please be cautious about the number of stocks you own today because you might fall in the General category. Since the stock price is increasing, the record day price will be considered today for the small shareholding category (total amount< 2Lakhs). This case will be valid, assuming small retailers have good ER and AR.
Yes but today we cant do anything. People already bought yesterday
Yes Mohsin Ji. For those who went FF yesterday there might be a category change depending on how the stock closes by the end of the day.
My accounts.
1. 183 shares
2. 155 shares
expected ER FOR PEL CLOSE TO 18%
Is there any timeline for completion of buyback post record date? respected members kindly guide.
Hi, I have PEL in Zerodha. How I can apply for Buyback?
In console /portfolio corporate action, I cannot see PEL. But tomorrow is Ex data for PEL
Please wait for the period of tender placing by the portal which may be after a week or so. Piramal Enterprises will be fixing the dates. You will get email notification from Piramal Enterprises mentioning your ER ER soon.
Thank you for the reply and your time! Very helpful !
Kind regards
Zerodha portal may start accepting tender from 30/8/23,ie, tomorrow onwards. You may place the order tomorrow itself,Sagun Ji
Yes….
Record date = T
Open Date = T+5
Close Date = T+9
T+14= Accepted shares ka paisa wapis…..
Record date announce hone ke baad 14-15 din main mamla khatam karna hai
Thank you Umesh ji for your experienced, excellent and exceptional information sharing. You seem to be a full timer in the field. Hope you are making very good returns too. Good luck to you.
Very kind of you. Please continue to share the helpful information as being available to you. I pray God to bless you with all the best. Thank you very much once again.
If we having only one share on record date for eligibility purpose
Then while tendering, can we apply more than ER or equal to ER?
In this case what should be creteria of Acceptance
Will this trick work
19.10. For avoidance of doubt, it is clarified that
al the Equity Shares accepted under the Buyback from each Eligible Seller, in accordance with clauses above, shall not exceed the number of Equity Shares tendered by the respective Eligible Seller,
b) the Equity Shares accepted under the Buyback from each Eligible Seller, in accordance with clauses above. shall not exceed the number of Equity Shares held by respective Eligible Seller as on the Record Date;
and the Equity Shares tendered by any Eligible Seller over and above the number of Equity Shares held by such
Eligible Seller as on the Record Date shall not be considered for the purpose of Acceptance in accordance
with the clauses above.
You can tender only one share or the number of shares you have held on the record date.
Hello members
Pel me retail ka ER n AR kitna% ho skta h.
Any expectations
Promoter is not participating here.
Will it increase AR in retail or not?
As promoter comes in general catagory so it will only benifit general catagory or retail would get also benifit?
AR in retails will not increase as already 15% is reserve quota for retail. hence it will beneficial only for General Category.
But Promotor is bullish in this stock hence price may go beyond the buyback price in near future.
Board may increase buyback price and reduce the buyback qty.
Okay Thanks Ankit bhai
Hi , Anyone please tell me the Probable ER and AR of this Buyback?
I’m holding around 7 lakh shares in different individual demat account.
Your net worth must be very high! 70+ cr only is Piramal shares?
7 lakhs amount rupees Holding ? or number of 7 lakhs shares ( 7,00,000 × 1060 = 74.2cr ) ?
General category ER – 9-10%
Retail category ER – 15-18%
I think ER will be as follows: –
Retail – 7.25%
General – 11.25%
ER WILL BE CLOSE TO 16% FOR RETAIL AND ACCEPTANCE WILL BE ATLEAST 70%
Yes, my mistake. At the time of copy pasting the values for ER from my working sheet, I used the values of shares from the last shareholding disclosure not from annual report. As per the last annual report i.e. 31 March 23, the ER will be as follows: –
Retail – 26%
General – 9.4%
Offcourse the ER of the retail will be lower that the above mentioned as it was based on 31 March 2023 shareholding pattern available in the annual report.
Apologies if someone did any trade on the basis of my wrong ER. Sorry again.
Hi, where we can apply for Buyback for PEL?
Can I sell my shares after the record date of buyback and re-buy again from the open market after the tender form is issued by the company, and tender for buyback? Will this scenario is considered?
Yes no problem doing this.
Same i tried in Triveni buyback.
Will it work under every brokerage? Can anyone give me some clarity about when I could sell and buy again without messing it up? Thanks in advance guys.
Yes you can.
Are you same Alok Agarwal from chittorgarh forum?
Piramal doing good… May be 182-185 nos would qualify for the small share holder category… selling off the higher qty with each increase..
What does experts say?
Yes, I think so. As we have a lot of buybacks so my ranking is as follows: –
1) KRBL
2) SIYSIL (long record date) & IndiaMART (little bit of risk due to one share strategy which may reduce AR)
3) PEL (move to 3 position due to today’s price change previously it was on 2)
4) FDC
I have exhausted all of my available funds. Have sold Ashiana today (at a 5% net profit) so funds will be available tomorrow for purchase.
Hello Rohit.
As I heard promoter is not participating here so what is expected final AR can we expect in this buyback?
Around 30% or more
Ok Thanks
I am enjoying the Instant credit of 75% of the sale proceeds in most of the cases within 5 minutes at ICICI DIRECT. Everyone knows the advantage of this.
Just reviewed the chart for you and I think this positive move will not stay as the volume is not good. I suggest you offload extra shares after keeping 200 shares. A couple of negative things like the negative results as well as Jefferies downgrade to Underperform from buy and reduce price target to 920 from 1025.
What is 182 to 185 nos?
U mean , no of people?
No of shares
No of shares , not people please.
What you have stated qualify as the best expert’s comments. Class and quality are brimming all over it. Aur kya chahiye!😄
Record date 24th August? Kindly update
Record Date 25th August, last day to buy -24th August
Sumit ji,
Thank you very much for your kind information. Please continue to help the readers by sharing your kind views on this buyback.
As promoters are not participating.
For general category, as per my calculation ER is 11%
So expected AR should be around 25-30% ?
Is this correct? Please advise.
FDC Will consider buyback on 9th Aug. Last year buyback AR was around 11% and buyback price was 475
Piramal Enterprise results are not good.
Should we buy at the cmp
Due to bad results, the price came down
Umeshji,
Is it advisable to go to pel buyback.
What will be approx ER n AR for retail category?
Is it worth buying at 993 level for the buyback..? planning to buy 100 shares..
Since promoter is not participating, what will be the retail quota i.e 15 % or more?
Promoter not participating has no impact on retail.
It only affects the general quota
Promoter bounded shares will go to which category?
What will be the approx ER n AR
Total No of Shares to be Bought Back: 1,40,00,000 shares out of total 23,86,63,700 shares at a price of
Rs.1250/share, implying an overall 5.87% shares approx. However, as the Company’s promoter and promoter group
have expressed their intention not to participate in the Buyback, the total no. of shares excluding promoter and promoter
group is 13,48,83,007, implying an overall 10.38% shares approx.
• Out of which 15% is reserved (15% of 1,40,00,000; 21,00,000 shares) for small shareholders holding less than worth
₹2 Lac share as on 25 August 2023 being record date. As per shareholding data of annual report 2023,
individual investors qualifying above criteria held approximately 78,64,173 shares, implying an acceptance ratio of
around 26.7% for retail investors.
• Thus, the overall acceptance ratio for re
Good Information. Can you please share the source/link of above information specially number of retail investor with holdings below Rs . 2 lakhs.?
I think number of shares holding by shareholders (less than 2L) is wrong.
Number of shared held are nearly 2.5cr please refer https://www.bseindia.com/corporates/shpPublicShareholder.aspx?scripcd=500510&qtrid=118.00&QtrName=June%202023
Sorry wrong buyback portion checked
As per june 2023 report 2.7cr shares are holded by shareholders with worth less than 2L
https://www.bseindia.com/corporates/shpPublicShareholder.aspx?scripcd=500302&qtrid=118.00&QtrName=June%202023
That’s nominal share capital which is calculated based on face value not cmp.
You may write entitlement ratio instead of acceptance ratio pl
Good to buy around 1022?
no because it will correct to 975 in near terms
Bought 80 @ 1005/ today.
what do you think about AR in this buyback?
Shud be 30 per hope for the best
Buyback1986 what will be AR according to u as it not mentioned in ur msg
Reached 992.what a judgement sirji!
now u can buy around 975
950 😳
yaa, aab maja aayega na!!
im buying 105 share @ 948.50
now im waiting for ER
Now it is 952 .Now days buyback becoming more risky so more safety belts are required. Strategy is to be changed.
If promoters are not participating then the AR in general category should be above 50% ?
Cant say this sure. Last year i participated in birla soft buyback general category after seeing tht promotors not participating. Thn happened wrong. ER for both category came same 4.61%.but acceptance ratio in general came 8.6% and Retail 19-20%.
Thank you for the kind reply.
Possible…
Since buyback size is 5.87..
Promoter holding 43+.. So only Max 57% shares can be tendered maximum..
It’s have huge FPI holding.. We expect less participation from them than us..
Means entitlement ratio around 10%..
I expect ER around 20% for retail and 7% for general ..
AR will be 40 and 15 for retail and general category..
Sir, as per my calculation ER for general category is 11%
So expected AR should be around 25-30% ?
Buyback Size :- 1,40,00,000 Shares
Buyback Price:- 1250 per Share ( Price may be increase before 1 working day of Record Date)
Through tender route
Record Date :- 25 Aug 23
Note:- Promotor is not participating hence retail portion will be 15% or propertinate basis whichever is higher
Thank you for the details
Looking good to participate.
Up to 5.87% of the paid up Equity Shares of the Company. A good indication that the AR will be a reasonably good one and investors will not be disappointed.
Sir, Since promoters are not participating that makes around 12.5℅ of paid up equity shares.
It makes 10.38%
Of course.
Good to know. Thank you gentlemen for this lovely information.
Hatsoff your contribution!!
keep it up!!
Buyback price 1250
Details are out. Tender offer…1750 crore… promoters are not participating
Sir if you cam please explain effects on retail AR particularly when promotos are not part participating in buyback and when participating in buyback.
Since promoter are not participating that make this very attractive.
Thank you for the update and nice to hear from you . Bought few today @ 1065/. Good luck to all.
Me too on 1065 but I gonna sold them … if price looks attractive i will buy again … it’s a month to record date
In market Rumours A Suprise BUYBACK it will be .
I mean BB price and Overall buyback amount is greater than expected.
Need thoughts from experience bro’s
Buyback price is 1900-2000 in a Rumours talking on a social platform
Buyback price is 1900-2000 in a Rumours talking on a social platform and with that they anticipated a big spike near today closing.
Sorry for a demerit comment post
Update on the outcome of the Board meeting is awaited. Those who have knowledge before close of trading hours today may kindly share .
Following the same strategy of buying shares today.
Buyback size wold be arround 1900-2000 cr
Have bought shares of Indian Mart, Aarti and L& T on the day of the board meeting. Exited the next day with profit. Does this strategy works in majority of BuyBack cases ? Little skeptical of Piramal so asking the veterans.
Anything above 51% is a majority. Your strategy should work in 6/10 cases.
thanks
Did you invest today?
This company has lot of debt.
Does sebi allow companies with debt to do buyback?
It’s a NBFC the business of which is lending and borrowing. Bound to have lots of debt. Please try to not to worry about this.
Thank you for this reply.
I had overlooked that it was NBFC.
I entered it after you pointed this out. Thnx