TechNoGrow Ltd. approved buy back proposal of 200000 Equity share capital in its Board meeting on 25th April, 2019. The record date was fixed on 25th June, 2019. The closing market price on NSE as on 25th April, 2019 and

In terms of proviso to the Regulation 6 of the SEBI (Buyback of Securities) Regulations, 2018, fifteen percent 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. Hence the total shares reserved for buyback under the offer will be: 200,000 x 15% = 30,000 shares Further, as per regulation 2(n) of the SEBI (Buy back of Securities) Regulations, 2018 'small shareholder' means a shareholder of a company, who holds shares or other specified securities whose market value, on the basis of closing price or shares or other specified securities, on the recognized stock exchange in which highest trading volume in respect of such securities, as on record date is not more than two lakh rupee. The closing price on record date is ₹2514.05. The number of shares eligible for buy back under small shareholders category will be: ₹200000 / ₹2514.05 = 79.55 shares 79.55 shares rounded off to lower whole number i.e 79 shares. Hence, equity shareholders holding not more than 79 shares of TechNoGrow Ltd. shall be classified as Small Shareholders.