Trading Members and Market Intermediaries are hereby requested to note that the Exchange shall send SMS and Email to investor (seller) for the trade matched for buyback of shares from open market route through Stock Exchange mechanism.
The Exchange shall identify the counterparty to the trade executed by the Buyer Company based on the UCC as indicated in the Trade Order Logs. Upon identification of trade, the Exchange shall send a SMS or Email to such counterparty/ seller informing them about their eligibility for appropriate deductions under the provisions of Income Tax Act, 1961.
The process to identify the seller investor and sending of SMS and Email and its structure is attached as Annexure I for information.
Trading Members are requested to note that a separate Buyback Trade File shall be provided to them as under:
· Buyback Trade File shall be generated for the buyback buyer and seller client, for the secondary market buyback transactions.
· The same shall be shared with Trading Member for matched trades only.
· Trade file to TM of Seller clients:
A separate trade file (with existing structure) shall be generated of those seller clients whose trades have got executed with the Buyback (Buyer) client. This file shall be pushed to the respective Trading Members.
· Trade file to TM of Buyback (Buyer) client:
A separate trade file shall be generated of buyback client. This file shall be pushed to the Trading Member where the buyback client is associated.
· The Buyback trade file format shall be same as existing trade file sent to TM in Equity segment. The Nomenclature for Buyback Trade file is BB_BRDDMMYY.<Member Code>.
· The Trade File Structure and Sample File are attached as Annexure II.
The sending of SMS and Email to investors and sharing of a separate Buyback Trade File for Trading Members shall be made live from Monday March 22, 2021 and shall be implemented for all existing live issues of the companies for buyback of shares from open market route through stock exchange mechanism and buyback issues starting on or after March 22, 2021.
Trading Members and investors are requested to ensure that investor’s mobile no. and email id is updated in UCC database of the Exchange to receive the communication/ intimation of the trade(s) matched for buyback of shares from open market route through stock exchange mechanism.
Trading Members are requested to contact on the following helpdesk numbers/ email id for any further clarification:
Bhushan Mokashi Sandeep Pujari
ADGM - Listing Sales & Ops AGM - Trading Ops