Triveni Turbine Ltd: Buyback Announcement

What is a Buyback?

Buyback or Share repurchase is a corporate action in which a company buys back its shares from their shareholders. Here, the company repurchases its shares at a price generally higher than the current market price. There are two types of buyback: tender offer and open market offer. Companies can choose either of these methods to buyback shares from its shareholders.

·  Tender offer: The company makes an offer to buyback its shares at a particular price (offer price) at which the shareholders can sell their shares.

·  Open-market offer: The company can buyback its shares by actively buying from sellers on the exchange. The buyback period is mentioned in the buyback offer, and it can last for months to ensure that there is no significant price movement due to the buying activity

Who is eligible to apply?

Shareholders are eligible to apply for buyback only if they are holding particular shares on record date.

Record date: The shares of a company that you buy on the stock market get credited to your demat account only after T+2 days i.e. record date. For e.g. if you are buying shares on Monday it gets credited to your demat account on Wednesday.

Triveni Turbine Ltd Buyback Details

For Triveni Turbine Ltd buyback you must have bought shares by 21^st Dec, 2022. So, those shares get credited on the record date i.e. 23^rd Dec,2022. Shareholders as on the record date would have received mail from the company.

Here, we at Niveshaay recommend you avail the option of buyback as the company is offering a buyback price higher than the current market price.

How to apply for buyback

Please contact your broker directly as the process for applying the buyback depends upon the broker. Here, we are attaching the link of a few brokers which will guide you through the buyback process. 

Zerodha – How to apply for buybacks, takeovers, delistings and OFS at Zerodha?

Grow -: Upcoming Buyback of Shares 2022; Video guide: https://youtu.be/l6g89S3gEHo 

Upstox – How to apply for Buy-backs?(via Mobile application) – Upstox Help Center 

What happens after buyback is applied?

After the end of the issue period, the company finalises the buyback acceptance and accordingly shares will be debited from your demat account and funds will be credited to your bank account (i.e. linked with your broker account). Last date for completion of buyback process for Triveni Turbine is 9th Feb 2023.

How to update Smallcase platform after buyback gets accepted?

We are pleased to share that there is no need to update at Smallcase as buyback gets automatically updated for all the brokers except for HDFC securities, Axis direct and ICICI direct. 

For clients with HDFC, Axis and ICICI as brokers, update the number of shares accepted in buyback to smallcase at support@smallcase.com or publisherhelpsc@smallcase.com. 

Key points 

· Buyback is not a buy/sell recommendation.

· You’re eligible only if shares are bought before ex-record date (i.e. 21^st Dec 2022 for Triveni Turbine Ltd.).  Email received from Triveni Turbine Ltd. mentions the number of shares held as on the record date

· Suggestion is to bid for all the shares while applying

For any query related to buyback Whatsapp Niveshaay at +91 7859870559 or click here.