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<h1>Companies Must Follow Regulation 9 for Buyback via Tender Offer: Key Timelines and Share Entitlement Details Explained.</h1> Regulation 9 of the Securities and Exchange Board of India (Buy Back of Securities) Regulations, 1998, outlines the procedure for companies conducting a buyback through a tender offer. A company must announce a record date to determine eligible security holders and dispatch the offer letter and tender form within five working days of receiving comments from the Board. The offer opens within five working days of dispatch and remains open for ten working days. Shares are categorized into reserved and general categories, with entitlements calculated accordingly. Remaining shares are accepted proportionally from those tendering above their entitlement.