L&T buyback: Price, acceptance ratio, other details. Should you participate?

livemint.com:

L&T buyback 2023: In the history spanning to the tune of eight decades, engineering behemoth Larsen & Turbo (L&T) declared first ever buyback offer in the week gone by. L&T buyback price was announced on Tuesday last week at ₹3,000 per share price. Means, the company would buyback L&T shares from retail investors at ₹3,000 per share price, which is ₹351 per share higher against current L&T share price of ₹2,649 apiece on NSE.

The Indian engineering major has announced that L&T buyback size would be ₹10,000 crore. However, stock market experts are not much moved by this buyback offer of L&T as they believe that the engineering company hasn't offered much on the table for shareholders. They went on to add that L&T buyback acceptance ration would be around 35 per cent to 40 per cent.

Speaking on L&T buyback of shares, Avinash Gorakshkar, Head of Research at IIFL Securities said, "Except L&T buyback price and size, various L&T buyback news is still awaited like L&T buyback date, L&T buyback record date, L&T buyback ratio, etc. So, I don't L&T buyback offer opening in first fortnight of August 2023. So, one should wait as there is not much offer on the table for investors at current L&T share price of ₹2,649 apiece." Avinash Gorakshkar of Profitmart Securities said that one should decide about participating in the buyback offer comparing the buyback offer and L&T share price at the time of buyback opening date.

If the margin is 10 per cent then one should apply. He said that L&T buyback acceptance ratio is expected to remain around 35 per cent. Echoing with Avinash Gorakshkar's views, Anuj Gupta, Vice President — Research at IIFL Securities said, "L&T has reported strong quarterly numbers and hence L&T share price is expected