ABI Financial Services Ltd (₹ABIRAFN)- Buyback
The company has announced a buyback of 10% of the shares outstanding - 600,000 for ₹28 each amounting to ₹16,800,000.
Reserve for shareholders - 15%
Total outstanding shares - 6,000,000
Small shareholding (Assumption) - 25%
The estimated acceptance ratio for small shareholders
- If 100% participation -14.5%
- If 75% Participation - 19.33%
- If 2/3rd Participation - 21.75%
Current market price - ₹23.9
Premium over current price - 17.15%
The stock has been hitting the upper circuit so, it might be difficult to buy the shares and similarly, it might become difficult to sell if everyone wants to dump the shares after the buyback. It’s a micro-cap so, be apprehensive about the liquidity.
Disclosure - Just an idea, not invested.
Subscribe To Our Free Newsletter |