TCS buyback will open today, know the last date and everything about this offer

TCS buyback will open today, know the last date and everything about this offer


new Delhi. The board of Tata Consultancy Services (TCS) in January this year approved a buyback offer of 4,00,00,000 stock at a price of Rs 4,500 per share for an amount of over Rs 18,000 crore. Was. The buyback offer of TCS shares is opening from today (March 9) and will close on March 23.

TCS informed that the buyback ratio in the reserved category for small shareholders will be “1 equity share for every 7 equity shares held by the investor as on the record date”. Whereas for all other eligible shareholders in the general category, the buyback ratio will be 1 for every 108 equity shares held on the record date.

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The IT giant has set February 23, 2022 as the record date for the purpose of determining eligibility and names of equity shareholders eligible for TCS buyback.

Premium of more than 16%
TCS shares closed at Rs 3,857 on January 12, 2022. This means that the buyback has to be completed at a premium of Rs 643 or 16.6% over the closing price of the stock. The company had also announced a dividend of Rs 7 with the record date of 20 January.

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TCS said that the last date for receipt of completed tender forms and other specified documents including physical share certificates by the registrar is also March 23. The last date for submission of bids on the stock exchanges is 1 April 2022.

TCS’s fourth and biggest buyback in 5 years
This is the fourth and biggest buyback offer by TCS in the last 5 years. The previous buyback of TCS was open on December 18, 2020 and closed on January 1, 2021. The price of this buyback was around Rs 16,000 crore.

Share buyback, also known as repurchase of shares. In this, the company buys back its shares from its existing shareholders at a premium to the prevailing market price. This can be an alternative tax-efficient way of returning the money to the shareholders. Share buybacks reduce the number of shares in circulation. After which the share price and Earnings Per Share (EPS) may increase.

Tags: Share market, TCS


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