Traders who want to partake in the shares of Tata Consultancy Services buyback should make quick decisions as today is the last date to buy the shares. These shares will turn ex-date on February 22nd for the rupees 18,000 crore buyback. TCS has fixed 23rd February as the record date.
As per SEBI regulations, small stakeholders having shares of value rupees 2 lakhs will get a reserved offer of 15% which roughly amounts to rupees 2,700 crores. The remaining market lot would have to play with the 44 shares. So we calculate rupees 2 lakhs divided by rupees 4,500 crores.
The closing price on Friday was ₹ 3,794.80 so taking 44 shares would approximately be ₹1.67 lakhs. For the profit to work out to ₹ 7,757 the acceptance ratio has to be at 25%.
As per analysts, the ratio is evaluated at 15-25%. Although the retail investors hold 3.6% and could have shooter up in the last week, the forecast for the acceptance ratio to fall by 4-10% is possible. The founder and director for Proficient Equities Private Limited, Manoj Dalmia stated that people looking for profits in the short-term could exchange their stakes at a reasonable premium.