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Buyback Acceptance Ratio Calculator

Estimate what fraction of your tendered shares a tender-offer buyback is likely to accept, using SEBI's mandatory 15% small-shareholder reservation. Pick a live buyback to auto-fill the offer price and size, or enter figures manually.

Pick a buyback to auto-fill (optional)

Estimated Acceptance Ratio (Small Shareholder Category)

+15.0%

Small shareholder = holds shares of market value ≤₹2,00,000 as on the record date (SEBI Buyback Regulations). This category gets a mandatory 15% reservation of the total buyback.

Total Buyback Shares

20,00,000

Reserved for Small Shareholders (15%)

3,00,000

Your Estimated Accepted Shares

8

Your Shares Tendered

50

This is an estimate for the small-shareholder (tender-offer) route only — the general (non-small-shareholder) category is typically accepted at a much lower proportionate ratio. The real acceptance ratio is only known after the buyback closes and the registrar finalises the basis of acceptance.

How the Buyback Acceptance Ratio Calculator works

Under SEBI's Buyback Regulations, 15% of every tender-offer buyback is reserved for “small shareholders” — anyone holding shares of market value ₹2,00,000 or less in that company as on the record date. If small shareholders collectively tender more shares than the reserved quota can cover, each small-shareholder application is accepted proportionately: acceptance ratio = shares reserved for small shareholders ÷ total shares tendered by small shareholders, capped at 100%.

The total shares tendered by your category is only known for certain after the buyback window closes — this calculator lets you plug in an estimate (from news coverage of similar past buybacks, or once interim tender figures are reported) to get an indicative acceptance ratio before the final numbers are out. The general (non-small shareholder) category is accepted from the remaining 85% and typically sees a much lower ratio when a buyback is heavily oversubscribed.

Disclaimer: This calculator is for educational purposes only and does not constitute investment advice. Always read the Red Herring Prospectus and verify current rates before applying for any IPO.

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Frequently Asked Questions

Who counts as a 'small shareholder' in a buyback?
Anyone holding shares of that company with a market value of ₹2,00,000 or less, as measured on the buyback's record date — regardless of how many individual shares that represents.
Why do small shareholders get a reserved 15% quota?
SEBI introduced this reservation (Buyback Regulations amendment, 2013) specifically to protect small retail investors from being crowded out by large holders in an oversubscribed tender-offer buyback.
Can I know my exact acceptance ratio before the buyback closes?
No — the final acceptance ratio depends on total shares tendered across all small shareholders, which is only confirmed after the tender window closes and the registrar finalises the basis of acceptance.
What happens to shares that aren't accepted?
Shares not accepted in the buyback are simply returned to your demat account — you keep them as a normal continuing shareholder, no funds are deducted for the unaccepted portion.
Does this apply to open-market buybacks too?
No — the 15% small-shareholder reservation and proportionate acceptance mechanism are specific to the tender-offer route. An open-market buyback (shares bought back gradually on the exchange) works differently and doesn't involve a fixed acceptance ratio.