Why did I get an email from the exchange about a part of my sell transaction during an open market buyback?
In an open market buyback, the company can opt to buy back its shares by actively buying from sellers on the exchange platform. The company mentions the period of buyback in the buyback offer. It is possible for either a regular buyer or the company to be the counterparty for your sell transaction during this period.
You might not receive the settlement for all the shares that you sold for a buyback offer because only a portion of it would have matched with the company's buyback order. You will receive an email from the exchange where your trades are executed with the details of your executed buyback order, including the quantity of the shares.
The government has introduced a buyback tax, and the company buying back the shares (open-market or tender buyback offer) pays all taxes on the buyback offer. You can use this confirmation for appropriate tax exemptions under the provisions of Income Tax Act, 1961.
Assume, you have sold 2000 shares of a company from your holdings. It is possible that the company buys back only 800 shares and the remaining 1200 shares might have been sold to another regular buyer. You will receive an email from the exchange confirming the transaction of the 800 shares that were bought back by the company.