Bajaj Auto buyback: Bajaj Auto shares are trading ex-buyback today. As per the information shared by the Indian auto major with the Indian stock market exchanges, the board of directors of Bajaj Auto has fixed the record date for Bajaj Auto buyback on 29th February 2024 i.e. today. This means, those who hold Bajaj Auto shares after the end of Thursday’s session, will be eligible to participate in Bajaj Auto buyback of shares. The auto major has declared a buyback of shares through the tender route. The company has declared the Bajaj Auto buyback price at ₹10,000 per share, which is around 25 percent higher than the Bajaj Auto share price today (around ₹8,000 apiece).

Bajaj Auto buyback details

Informing Indian stock market bourses about the decision, Bajaj Auto Ltd said, “This is in furtherance of our disclosure dated January 8, 2024, and February 15, 2024, informing the decision of the board of directors and the members of the Company, respectively, to buyback up to 40,00,000 (Forty Lakhs) fully paid up equity shares of the Company having a face value of ₹10 each at price of ₹10,000/- (Rupees Ten Thousand Only) per equity share for an aggregate amount not exceeding ₹4,000 crore (Rupees Four Thousand Crore Only) excluding transaction costs, applicable taxes and other incidental and related expenses (“Buyback”).”

“Pursuant to Regulation 42 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Regulation 9(i) of the Securities and Exchange Board of India (Buy-Back of Securities) Regulations, 2018, as amended, the Buyback committee constituted by the Board of Directors has fixed Thursday, February 29, 2024, as the record date for the purpose of determining the entitlement and the names of the equity shareholders who shall be eligible to participate in the Buyback,” Bajaj Auto said.

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However, Bajaj Auto is yet to declare the buyback offer dates and buyback ratio. So, those who bought Bajaj auto shares till 28th February 2024 and continue to hold the scrip after today’s market close would be eligible to tender their stock during the offer period.

Bajaj Auto buyback: How to apply?

Those who want to tender their stocks during the offer period (which is yet to be declared) without using DDPI or POA, need to follow the below-mentioned step-by-step guide:

1] Visit console.zerodha.com/dashboard using your login ID and Password;

2] Click on ‘portfolio’ followed by ‘corporate action’;

3] Go to stock, select options, and click on Place Order;

4] Enter the number of stocks you want to tender and click on the ‘Submit’ button;

5] Authenticate using CDSL TPIN and verify with the OTP;

6] Go to Stock again, select Options, and click on Place Order;

7] Enter the number of shares you want to tender and click on the ‘Submit’ button.