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July 10, 2018: HCL Technologies Ltd (BSE:532281 | NSE:HCLTECH ) board would meet on to consider a share buyback. This is the second consecutive year where HCL has planned for Buyback. The company has a good amount of cash and the company need to distribute this via buyback or dividend to shareholders.
Last year 2017-2018 company performed 3,500 Cr buyback. Market Price when buyback was announced was 850 and buyback price was finalized on 1000. In such a case person who proposed his share for buyback has got approx 150 per share. For retail investor acceptance ration was 70%.
As per market report company is sitting on 9,800 Cr cash this time and analyst are expecting buyback will be around a similar price - 3,500 Cr. This time analyst is proposing a buyback price in 1100 to 1200 price range. TCS board is meeting on July 12th 2018, to approve buyback proposal.
July 12, 2018: HCL Technologies Ltd (BSE:532281 | NSE:HCLTECH ) board has approved a proposal for buyback of up to 3.64 Cr shares at Rs 1100 per share, aggregating Rs 4,000 cr which is 2.61% of total number of paid-up equity shares capital.
Below is the complete details about HCL Technologies Ltd Buyback. Record date, buyback open and close dates are announce in below section.
| Buyback Type: | Tender Offer |
| Buyback Offer Amount: | Rs 4000 Cr |
| Buyback Number of Shares: | 3.64 Cr |
| Buyback Price: | Rs 1100 |
| Buyback Offer Size (In %): | 2.61% |
| Total Share Capital: | Rs 137,082.44 Cr |
| Face Value: | 2 Per Equity Share |
Can I Invest today to participate in HCL Technologies Ltd buyback offer? No
In this section we have covered all important dates related to HCL Technologies Ltd Buyback. Dates are updated as they are announced. The most noted dates are record date and buyback open and close dates, which one should use to participate in buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for Buyback proposal | 12th Jul 2018 |
| Buyback Approval date | 12th Jul 2018 |
| Public Announcement of Buyback | 12th Jul 2018 |
| Record Date | 31st Aug 2018 |
| Buyback opens on/Buyback Opening Date | 18th Sep 2018 |
| Buyback closes on/Buyback Closing Date | 3rd Oct 2018 |
| Cut-off date to receive completed tender forms by Registrar | 5th Oct 2018 |
| Cut-off date for verification by the Registrar | 5th Oct 2018 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance
of tendered Equity Shares by Registrar |
11th Oct 2018 |
| Last date of settlement of bids on the stock exchange | 11th Oct 2018 |
| Last date to return unaccepted shares by Registrar | 12th Oct 2018 |
| Last date of extinguishment of Equity Shares | 19th Oct 2018 |
Stock Holding table gives a clear picture on retail investor holdings of HCL Technologies Ltd shares which helps investor to decide on participating in buyback offer. The less number of retail holdings means higher chance of acceptance in buyback under retail category which is equal to higher profit.
| Holding Type | In % |
|---|---|
| Promoter-Foreign | 16.80% |
| Promoter-Indian | 43.38% |
| Non-Promoter-Institutions | 26.54% |
| Non-Promoter-Non-Institutions | 3.49% |
| Category | Entitlement Ratio of Buyback Per Equity Shares | Entitlement Ratio of Buyback in % |
|---|---|---|
| Reserved Category | 15 Equity Share out of every 31 fully paid-up Equity Share held on the Record Date. | 48.41 |
| General Category | 16 Equity Share out of every 715 fully paid-up Equity Share held on the Record Date. | 2.24% |
For HCL Technologies Ltd Buyback Offer, Report updated by the manager of buyback -
In general category - response received 164.79%, No. of Equity Shares reserved in Buyback was 30909090 where valid bid received for retail category was 50934735 which is 164.79% oversubscribed.
In Reserved category for Small Shareholders (Retail) - response received only 14.60%, No. of Equity Shares reserved in Buyback was 5454546 where valid bid received for retail category was 796531 which is 14.60%. Final Acceptance Ratio for Retail Investors was 100%.
The table below will give you a complete dashboard view for all open buyback offer in current market.
| Company Name | Buyback Type | Offer Amount | Buyback Price | CMP | Record Date | Buyback Open Date | Buyback End Date |
|---|---|---|---|---|---|---|---|
| Tanla Platforms Ltd | Tender Offer | Rs 170 Cr | 1200 | 925.60 (0.36%) | 25-10-2022 | TBD | TBD | Garware Technical Fibres Ltd | Tender Offer | Rs 90 Cr | 3750 | 4-11-2022 | TBD | TBD | Orbit Exports Limited | Tender Offer | Rs 10 Cr | 245 | 165.00 (0.00%) | 18-11-2022 | TBD | TBD | KRBL Limited | Tender Offer | ₹325.00Cr | 500 | 298.05 (-0.90%) | 25-08-2023 | TBD | TBD | Tips Industries Limited | Tender Offer | ₹37.19Cr | 625 | 460.50 (-0.74%) | 22-04-2024 | TBD | TBD |
Detail Article on Benefit from buyback offer >> Read
HCL Technologies Ltd Buyback Important dates - Record Date,Buyback Start and End date. Buyback Details - Buyback Price, Buyback Offer Size, Buyback Number of Shares, Retail Investors limit. What is the record date for HCL Technologies Ltd? How can I apply in HCL Technologies Ltd Buyback offer?Last Updated on 2018-10-26T03:18:59+00:00
