Not directly related to the fundamentals of Nucleus; wanted to work out the meaning of “Non-institutional investor” in a buyback.
Here’s the NSE demand schedule – https://www.nseindia.com/market-data/tender-issue-information?symbol=NUCLEUS&type=Active
Under “bid details”, do the NIIs categorized as “others” mean ordinary investors having shares worth > 200,000 in their demat account on the cutoff date, or they get clubbed with retail investors, and NIIs mean something else?
Now completely off-topic – this was the last buyback before Oct 1 where buyback-flippers had a chance to make real money. Post Oct 1, buyback proceeds will get treated as dividend, and get taxed according to one’s slab, while providing for acquisiton costs to be treated as a capital loss.
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