When you tender shares for buyback, you offline transfer the shares from your demat account to the company's Escrow Demat Account setup for the buyback. The company accepts the shares based on the buyback criteria and transfers the funds to your bank account. The shares which are not accepted are returned to your demat account.
After the buyback offer is closed, the company takes two to three weeks to complete the process. The shares remain in the company's escrow demat account for this duration. As tendered shares doesn't stay in your account, you can't sell them.
