Transworld Holdings has rejected the discovered price — Rs 890 — through the reverse book building process and made a counteroffer at a much lower price of Rs 400 a share.
Against the discovered price of Rs 890 a share, Transworld Holdings Limited has offered Rs 400, which is at a 16 percent discount to the September 28 closing price of Rs 473.83
The company first offered Rs 338 per share for the buyback, which was later revised to Rs 375 as the share price rallied post the buyback announcement.
Here's what Mehul Kothari of Anand Rathi Shares & Stock Brokers, recommends investors should do with these stocks when the market resumes trading today.