Bajaj Auto Buyback Update: Priority for Single Small Shareholders

Key Highlights Bajaj Auto has provided clarity on the acceptance process for shareholders participating in its buyback under the Small Shareholder category. Acceptance Process 1. Entitlement Acceptance • All valid shares tendered up to the entitled quantity will be accepted first. 2. Priority for Single Small Shareholders • After entitlement acceptance, preference will be given to single shareholders within the Small Shareholder category. • Their eligible tendered shares will be considered before additional shares tendered by other shareholders. 3. Additional Shares • Shares tendered above the entitlement will be accepted on a proportionate basis, subject to the availability of shares after giving priority to eligible single small shareholders. What It Means • Single shareholders in the Small Shareholder category may enjoy a higher probability of acceptance for shares tendered beyond their entitlement. • Investors should first focus on tendering their entitlement shares, which are generally accepted in full if valid. • Acceptance of additional shares will depend on the overall participation in the buyback and the remaining capacity after priority allocation. Learning Outcome In a tender offer buyback, the entitlement ratio determines the minimum number of shares eligible for acceptance. Depending on the buyback rules, certain shareholder categories—such as single small shareholders—may receive preferential treatment, potentially improving their overall acceptance ratio. $BAJAJ-AUTO