Bajaj Auto share buyback to open on March 6. Key details

The Rs 4,000 crore Bajaj Auto Ltd share buyback will open on Wednesday, March 6. The buyback plan was announced in January a price of Rs 10,000 per share through the tender offer route and on a proportionate basis. Bajaj Auto intends to buy back up to 4,000,000 fully paid-up equity shares of face value of Rs 10 each, representing 1.41 per cent of the total number of equity shares of the two-wheeler maker.

Bajaj Auto has announced the tender route buyback timelines and acceptance ratio, with the final entitlement ratio for general, institutional acceptance.

For general and institutional investors, Bajaj Auto will buyback one equity share for every 82 equity shares held on the record date, translating to a 1.22 per cent acceptance rate. Thus, a minimum of 1.22 per cent of shares will be accepted, with the final acceptance potentially slightly higher on a case-by-case basis, said Abhilash Pagaria of Nuvama Alternative & Quantitative Research.

For retail, Bajaj Auto will buyback seven equity Shares for every 27 shares held on the record date, resulting in a 25.9 per cent acceptance rate. Therefore, a minimum of 26 per cent of shares will be accepted, with the final acceptance likely to be closer to 26-30 per cent, Nuvama said.

The record date for Bajaj Auto buyback was February 29. The buyback will close on March 13, 2024. The last date of verification of Tender Forms by the Registrar is March 18. The last date of providing acceptance/non acceptance is March 19.

The last date of extinguishment of Bajaj Auto shares is March 26, 2024. It should happen before only, Nuvama said.

⁠The buyback was announced on January 08, and with all the timelines in place, it will be completed in about three months' time, by March 26.