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Dates for TCS share buyback of Rs 18,000-crore have been announced

TCS share buyback

TCS share buyback dates have been announced

TCS share buyback – Tata Consultancy Services (TCS) revealed the dates for its massive buyback share sale on Monday. The company said in a regulatory filing that the offer for its Rs 18,000 crore share buyback will open on March 9 and close at 5 p.m. on March 23. 
1 stock share for every 7 equity shares held on the record date will be repurchased. TCS stated that the reserved category for small shareholders will have 1 equity share for every 108 equity shares, while the ratio for all other qualified shareholders will be 1 equity share for every 108 equity shares. 
TCS’ board of directors approved a buyback of shares worth Rs 18,000 crore, or 1.08 percent of the total paid up equity share capital, at a price of Rs 4,500 per equity share, while reporting its quarterly results for the October to December quarter of 2022-2022. 
The repurchase of shares of stock by the firm that issued them is referred to as a share buyback. The issuing business pays shareholders the market value per share and re-absorbs the amount of its ownership that was previously allocated among public and private investors.

TCS share buyback

TCS promoters Tata Sons and Tata Investment Corporation Ltd (TICL) plan to submit shares worth Rs 12,993.2 crore in the IT services company’s Rs 18,000 crore repurchase offer. 
TCS‘s last buyback offer, worth about Rs 16,000 crore, began on December 18, 2020, and ended on January 1, 2021, with Tata Sons tendering shares worth Rs 9,997.5 crore. 
At the time, almost 5.33 crore equity shares were bought (at a price of Rs 3,000 each), with Tata Sons’ 3,33,25,118 shares being accepted as part of the repurchase offer. 
In 2018, India’s largest IT services provider repurchased up to Rs 16,000 crore in shares at a price of Rs 2,100 per share. In 2017, a similar exercise was carried out. 
TCS’s stock fell 0.54 percent to Rs 3,525.20 per share on the BSE on Friday. 

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