Announcements

The Welspun India Limited buy-back offer of ₹120 per share has gone live on 22nd June 2021 and you can apply for it before 5th July 2021.

Read on to know what this means and how you can apply for it quickly and easily -

What is a buy-back and why should you opt for it?
It’s a corporate action where a company offers to buy-back its shares from the existing shareholders usually at a higher price than the market price. To learn more about a buy-back, watch our easy-to-understand video by clicking here.

What does this offer mean for Welspun India Limited shareholders?
Existing Welspun India Limited shareholders holding Welspun India Limited shares as on 26th May 2021 (which is the record date) can offer to sell their shares back to Welspun India Limited for ₹120 per share by applying to their buy-back offer.

How to apply for a buy-back?
Just follow these steps: 

1. Login into keystone.upstox.com with your client code and back-office password
2. Click on “Account” on the top of the header line
3. Click on “Buy Back/ Takeover” from the drop-down
4. Click on “Apply” and enter the quantity
5. Submit the request

Note: Non-POA holders will need to enter a valid pin to authenticate the buy-back via EDIS to proceed.

When can you apply?
You can apply for this buy-back offer on or before 5th July 2021.

What to keep in mind while applying?

1. You can only apply for this buy-back if you hold shares of Welspun India Limited  in your Demat account as on 26th May 2021.
2. You shouldn’t sell these shares on or before 5th July 2021 if you’re interested to take part in the buy-back offer.
3. After applying and offering your shares up for a buy-back, you cannot sell them in the market and modify or cancel your original bid.
4. You can only sell these shares in the market If the company cancels the buy-back and you receive your shares back from the company.
5. You will receive the buy-back amount for the shares from Welspun India Limited / Registrar & Transfer Agent (RTA) directly into your bank account (this will be updated in the records of the depository as well).
6. A total of 1,66,66,667 shares will be accepted by Welspun India Limited for the buyback and the remaining shares not accepted by Welspun India Limited will be returned back to shareholders in their Demat account. The percentage of shares accepted will be decided based on the number of retail investors who have applied for the buy-back. 

You can read the Exchange circular here.

That’s all about the Welspun India Limited buy-back, stay tuned for more buy-back updates from Upstox!