Open Market Buyback - August 2022
Buyback is a corporate action in which a company buys back its shares from the existing shareholders for several reasons. There are different methods of buyback among which Open Market Buyback is one.
In an open market buyback, the company purchases its shares directly from the market and there won’t be any tender process. Any equity shareholder of the company can participate in the buyback offer during the buyback window.
Here are the open market buybacks of August 2022:
Company | Start date | End date |
Mindteck (India) Limited | 24-08-2022 | 23-02-2023 |
TCI Express Limited | 18-08-2022 | 13-02-2023 |
If you hold shares of the company, you can bid by placing normal sell orders through their stockbroker till the buyback window is open. Refer to the links in the table to find more details.
Piramal Enterprises Limited (PEL) Corporate Action
As per NSE’s circular, Piramal Enterprises Ltd has announced the allotment of 4 equity shares of Piramal Pharma Ltd for every 1 equity share of Piramal Enterprises Ltd.
Also, all existing F&O contracts of Piramal Enterprises Ltd with expiry dates of 29-Sep, 27-Oct, 24-Nov will now be expiring on 29-Aug-22.If you have any existing open positions in these contracts, kindly take the below steps:
If you have any existing open positions in these contracts, kindly take the below steps:
- Maintain 50% of the contract value on or before 29-Aug-22 to avoid RMS square-off and/or margin shortfall penalty.
- Square-off any existing open positions by 29-Aug-22 to avoid physical settlement and/or margin shortfall penalty.
The PEL F&O Contracts for the above expiry dates will be re-introduced for trading on 30-Aug-22.
The list of option strikes from which specific strike prices would be made available for these contracts will be communicated via a separate circular to be issued on 29-Aug-22 post market hours.
W.e.f 29-Aug: New Identity for Trans Financial Resources Ltd.
As per a recent circular, the name and symbol of Trans Financial Resources Ltd. (Scrip code: 526961) will be changed as follows w.e.f 29-Aug-22.
Existing Symbol | New Symbol | Existing Name the of Company | New Name of the Company |
TRANSFIN | LASTMILE | Trans Financial Resources Ltd. | Last Mile Enterprises Ltd. |
Refer: BSE Circular
Sub-division of equity shares of Alfavision Overseas (India) Ltd.
Stock sub-division or stock split is a corporate action in which a company increases the number of its outstanding shares by issuing more shares to its existing shareholders.
As per a recent BSE circular, 1 equity share of Alfavision Overseas (India) Ltd. (Scrip Code: 531156) will be sub-divided into 10 equity shares. The key dates for the same are as follows:
Company Name | Symbol | Sub-division Ratio | Record Date | Ex-split Date |
Alfavision Overseas (India) Ltd. | ALFAVIO | 1:10 | 29-Aug | 29-Aug |
Refer: BSE circular
T+1 Settlement: August Update
As you all know, from Feb-22, NSE & BSE introduced the T+1 settlement cycle in the Cash Segment in a phased manner as per the SEBI guidelines.
W.e.f 26-Aug-22:
- 161 more securities (total of 435) of NSE will be added into T+1 settlement
- 438 more securities (total of 2693) of BSE will be added into T+1 settlement
Important points for stocks under T+1 settlement in Cash segment:
- The stocks traded will be settled on T+1 day.
- The MTF (Margin Trading Facility) Pledge Request must be authorized by 9:00 PM on T day for MTF funding.
- Auction settlement (if any) will happen on T+2 day.
Refer: NSE Circular | BSE Circular | Overview of T+1 settlement
Important Dates: Dreamfolks Services Ltd. IPO
Dreamfolks is a dominant player and India's largest airport service aggregator platform (with a share of over 80% in the domestic lounge access market) facilitating an enhanced airport experience to passengers leveraging a technology driven platform.
Check out Dreamfolks IPO details
The below table has important dates with respect to the IPO allotment and listing.
Finalization of Basis of Allotment | 01-Sep-22 |
Initiation of Refunds | 02-Sep-22 |
Credit of Shares to Demat Acct | 05-Sep-22 |
IPO Shares Listing Date | 06-Sep-22 |
UPI mandate expiry date | 07-Sep-22 |
In case you have not been allotted for any partial allotment of IPO shares, the blocked amount, if any, will be unblocked/released on or before UPI mandate expiry date as mentioned in the above table. Please reach out to your bank in case funds are not unblocked/released post the mandate expiry date.
Sub-division of equity shares of PDS Ltd.
Stock sub-division or stock split is a corporate action in which a company increases the number of its outstanding shares by issuing more shares to its existing shareholders.
As per a recent BSE circular, 1 equity share of PDS Ltd. (Scrip Code: 538730) will be sub-divided into 5 equity shares. The key dates for the same are as follows:
Company Name | Symbol | Sub-division Ratio | Record Date | Ex-split Date |
PDS Ltd. | PDSL | 1:5 | 29-Aug | 26-Aug |
Refer: BSE circular
Sub-division of equity shares of Rama Steel Tubes Ltd.
Stock sub-division or stock split is a corporate action in which a company increases the number of its outstanding shares by issuing more shares to its existing shareholders.
As per a recent BSE circular, 1 equity share of Rama Steel Tubes Ltd. (Scrip Code: 539309) will be sub-divided into 5 equity shares. The key dates for the same are as follows:
Company Name | Symbol | Sub-division Ratio | Record Date | Ex-split Date |
Rama Steel Tubes Ltd. | RAMASTEEL | 1:5 | 26-Aug | 25-Aug |
Refer: BSE circular
W.e.f 24-Aug: New Identity for MRC Exim Ltd.
As per a recent circular, the name and symbol of MRC Exim Ltd. (Scrip code: 540809) will be changed as follows w.e.f 24-Aug-22.
Existing Symbol | New Symbol | Existing Name the of Company | New Name of the Company |
MRCEXIM | MRCAGRO | MRC Exim Ltd. | MRC Agrotech Ltd. |
Refer: BSE Circular
Adjustment of F&O Contracts & Issue of Dividend of HINDPETRO
As per the recent NSE circular, Hindustan Petroleum Ltd. is issuing Rs 14 dividend for every 1 existing share held. For all Future Contracts, the base price will be reduced by Rs 14. For all Options Contracts, the strike price will be adjusted as per dividend value. The key dates for the Dividend Issue are as follows:
Company Name | Record date | Ex-Dividend basis from Date |
Hindustan Petroleum Ltd. | 23-Aug-22 | 22-Aug-22 |
Refer: NSE Circular 1 | NSE Circular 2