An extract of Balance Sheet of Airrath Aviation Ltd., comprises of: Equity Share Capital: ₹30,00,000 of ₹50 each 12% Preference Share Capital: ₹5,00,000 of ₹500 each 14% Debenture capital: ₹15,00,000 of ₹500 each What is

'Tender Offer' means an offer by a company to buy-back its own shares or other specified securities through a letter of offer from the holders of the shares or other specified securities of the company; A company may buy-back its shares or other specified securities from its existing securities holders on a proportionate basis in accordance with the provisions of the SEBI (Buy-Back of Securities) Regulations, 2018. However 15% of the number of securities which the company proposes to buy-back or number of securities entitled as per their shareholding, whichever is higher, shall be reserved for small shareholders.