Posted on 7th Jun 2017
by Vijay Jain
May 30th 2017 - The Renaissance Jewellery Limited board of directors has approved the proposal of buy back of 2 lakhs shares worth of 500 lacks.
Buy back price of Renaissance Jewellery Limited share has been finalized Rs 250 per Share.
May 30th 2017 - The Equity Shareholders of the Company approved the Buyback offer.
May 30th 2017 - Company Officially announced the buyback offer.
Detail Article on Benefit from buyback offer >> Read
If you hold Renaissance Jewellery Limited share around Rs-200 where offer price is Rs-250, you can get Rs 50 per accepted share. If you hold 1000 share of Renaissance Jewellery Limited and in proportionate acceptance is between 33% to 50%, in such case you are eligible to sell your 75 to 100 share with the gain from buy back can be Rs 16,650 to Rs 25,000.
Record Date for Renaissance Jewellery Limited Buyback offer – June 12th 2017
To participate in Renaissance Jewellery Limited buyback offer, record date is June 12th 2017. Which means you should hold the Renaissance Jewellery Limited share in your demat account by closing session of June 12th 2017. Share purchased on and before June 8th 2017 will be available in your demat account by June 12th 2017.
Retail Investor can sell upto Rs 200,000 worth of shares.
Buyback opening date for Renaissance Jewellery Limited Shares: August 21, 2017
Buyback closing date for Renaissance Jewellery Limited Shares: September 04,2017
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 September 06,2017.
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 September 12,2017.
Money will be directly deposit in your registered bank account. Usually money will be deposited on and after September 12,2017, 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 September 13,2017.
For Buy back shares holders are divided in 2 categories:
Small Shareholders : Who holds Max Rs 2 Lacs worth of shares @ 176.15 per equity share - in such case Max 400 Equity Shares as of June 12,2017.
Reserved Category - 1 Equity Shares out of every 54 Equity Shares held on the Record Date.
General Category 1 Equity Shares out of every 308 Equity Shares held on the Record Date.
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