Very well summarized. Got into same conclusion. But with past buyback experience, suggest you to add 20% increment in the expected retail shareholders – 1 reference for the same could be shareholding pattern. Public holding have increased from 40.24% to 41.95% in Dec 21.
I have back calculated with the expected selling price of remaining shares. On that basis, I got any price below Rs 157-160rs (excluding special dividend) is a good price to enter. I have assumed worst case price Rs 140, where last swing made, which gave me technically support price. Fundamentally, stock seems to be above of fair price.
Disclaimer: Just an opinion. Not a recommendation.
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