Bajaj Auto share buyback: Dates, retail acceptance ratio, all details here

Bajaj Auto buyback: Bajaj Auto’s ₹4,000 crore share buyback scheme opens today (March 6). As per the scheme the two-wheeler and three-wheeler maker will buy back 40 lakh shares- 1.41% of total outstanding shares at a price of ₹ 10,000 per share through the tender route.

The price is at a significant premium to the market price- ₹8386.65 on BSE (March 5). Bajaj Auto shareholders are eligible to apply for the special situations opportunity.

Bajaj Auto’s promoters and promoter group have also expressed their interest in participating in the share buyback where they may tender up to an aggregate maximum of 18,75,657 equity shares. The promoters and promoter group currently hold 54.94% of the total equity share capital of Bajaj Auto.

Bajaj Auto buyback: What is the entitlement ratio?

For the general category, share entitlement ratio has been fixed at 1 equity share for every 82 equity shares held on the record date which means acceptance rate is at 1.22%.

In the retail category- individual shareholders with investments up to ₹2 lakh- the ratio has been fixed at 7 shares for every 27 shares reaching a 25.9% acceptance rate.

Bajaj Auto buyback: Important dates

Bajaj Auto share buyback opens from March 6. The scheme will close on March 13. The last date of verification of tender forms by the registrar has been fixed at March 18. On the stock exchange, bids will be settled by March 20. The shares bought back will be extinguished by March 26.