Infosys Technologies


Staff member
Thanks. I was guessing it to be around 60%.
The overall acceptance ratio is higher for those who tendered less shares.

That's because proportionate acceptance applies only to the shares in excess of entitlement.

Those who offered no shares above their entitlement will have 100% acceptance ratio.
From the Letter of Offer Page 53

As an overall point, since the Buyback is to be undertaken on the NSE / BSE, such transaction is chargeable to the STT. STT is a tax payable in India on the value of securities on every purchase or sale of specified securities that are listed on the Recognised Stock Exchanges in India. Currently, the STT rate applicable on the purchase or sale of shares on the stock exchange is 0.1% of the value of the security.
But STT was not deducted. Any idea why?