Posted on 25th Jun 2017
by Vijay Jain
June 28,2017 - MindTree is consider a share buyback in board meeting which is planned on June 28,2017.
June 28,2017 - The MindTree board of directors has approved the proposal of buy back of 43.2 lakhs shares worth of 270 crore @Rs 625 per share.
Buy back price of MindTree share has not been finalized..
June 29,2017 - The Equity Shareholders of the Company approved the Buyback offer.
June 29,2017 - Company Officially announced the buyback offer.
Detail Article on Benefit from buyback offer >> Read
Suppose if you have MindTree shares at Rs 550 and Buy back offer price is Rs 625, you can get Rs 75 per accepted share. If you hold 363 shares of MindTree and if proportionate acceptance is between 33% to 50%, in such case you are eligible to sell your 120 to 181 shares with the gain from buy back of Rs 9,000 to Rs 13,636.
|% Share Accepted||No of Shared Accepted||Gain from Buyback Offer|
Record Date for MindTree Buyback offer – 11 July 2017
To participate in MindTree buyback offer, record date is 11 July 2017. Which means you should hold the MindTree share in your demat account by closing session of 7 July 2017. Share purchased on and before 7 July 2017 will be available in your demat account by 11 July 2017.
Retail Investor can sell upto Rs 200,000 worth of shares.
Buyback opening date for MindTree Shares: 18 Aug 2017
Buyback closing date for MindTree Shares: 1st Sep 2017
This is the window when you need to submit your application for proposal for share buyback. If you are submitting tender forms or submitting physical share certificates, it must reach to registrar by 5th Sep 2017.
As this is a buyback tender offer, shares are accepted in proportionate basis. Proportionate acceptance / rejection will be returned back to the Eligible Shareholders directly by the Registrar – by 12the Sep 2017.
Money will be directly deposit in your registered bank account. Usually money will be deposited on and after 12the Sep 2017, which is last date of settlement of bids on the Stock Exchange.
In case of physical shares holding, you will get check.
Rejected share will be available in your demat account and ready for trading in open market. – by 12the Sep 2017.
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e-Aadhar base account opening
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