A buyback is when a company buys its own shares from the stock market. It's like a company investing in itself by purchasing its own stock from investors who own it. This can happen for various reasons, like boosting the stock price or returning money to shareholders. Buyback is usually done at a price higher than the current market value.
Below are the steps of How to apply for buyback from Website.
1. Visit Dashboard and check Smart Investment Section and click on Buyback.
2. Navigate Open Tab and Click on Apply on your preferred buyback company.
3. Enter quantity you wish to sell and, then click on Apply to place your order.
4.To view your order status, Navigate My Orders Tab.
Points to be noted to apply for buyback:
1. User should hold the shares on the record date of the buyback to be eligible to apply.
2. User should have submitted POA/DDPI to their depository participants.
3. Application once submitted cannot be modified/cancelled.