Buyback of shares in India
ABOUT THE BOOK
Buyback of shares by companies is a relatively new concept in India. There are several reasons as to why a company might buyback its own shares: (a) it gives the company flexibility to make adjustments in the capital structure, (b) company can boost operating profits and earning per share, (c) it deters an impending takeover bid, (d) company can correct perceived undervaluation of its shares and (e) it can arrest downward trend in shares prices. In view of these benefits, the introduction of buyback in the corporate sector of India has found favour with the regulatory authorities and received favourable response from the Indian companies.
The present book examines a number of relevant issues concerning buyback of shares by companies in India including a comprehensive review of the theory underlying buyback operations, legislative provisions governing share buyback, accounting and reporting aspects of buyback and buyback provisions and practices prevailing in other parts of the world.
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Buyback Scenario in India
Buyback Practices in India Case Study
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announcement of buyback Bajaj Auto Ltd BSE Sensex buyback in India buyback of securities buyback of shares buyback offer buyback price buyback program buyback provisions buyback transaction buying back cancelled capital market capital reduction capital structure cent Chapter Companies Act Companies Amendment company's shares corporate creditors disclosure dividend Dutch Auction earnings effect of buyback equity shares firm free reserves going for buyback hence Hypothesis increase Indian companies Indian Rayon Ltd insider trading investment investors market price MICO months non-tendering shareholders number of shares open market repurchase operating profit paid-up capital period post buyback pre1buyback purchase Raymond Ltd reduced relating to buyback Reliance Industries repurchase programs sample companies Section 77A securities premium account share buyback share capital share premium account share prices shares bought back shares repurchased Sisodiya special resolution specified securities stock exchange stock price Sub-section takeover Tea Company Ltd tender offer Tezpore Tea Company undervaluation