Offer procedure

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....uyback offer. (2) The letter of offer along with the tender form shall be dispatched to the security holders who are eligible to participate in the buyback offer, not later than five working days from the receipt of communication of comments from the Board. (3) The date of the opening of the offer shall be not later than five working days from the date of dispatch of letter of offer. 2[(3A). Th....

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....es left to be bought back, if any in one category shall first be accepted, in proportion to the shares or other specified securities tendered over and above their entitlement in the offer by security holders in that category and thereafter from security holders who have tendered over and above their entitlement in other category.]   ******** 1 regulation 9 has been substituted by the SEBI ....

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....ded by the total acceptances received and multiplied by the total number of shares or other specified securities to be bought back. (5) The company shall complete the verifications of the offers received within fifteen days of the closure of the offer and the shares or other specified securities lodged shall be deemed to be accepted unless a communication of rejection is made within fifteen days ....