In 2017, TCS initiated its first share buyback, buying shares valued at 16,000 crore in February at an 18 % premium to the prevailing market value.
TCS Buyback 2023: This buyback constitutes 1.12 % of TCS’s whole issued and paid-up fairness share capital as of September 30.
Tata Consultancy Services (TCS) introduced in a submitting on November 28 that its Rs 17,000 crore share buyback program is scheduled to start on December 1 and conclude on December 7.
The IT providers firm plans to repurchase a most of 4.09 crore fairness shares with a face worth of Rs 1. This buyback constitutes 1.12 % of TCS’s whole issued and paid-up fairness share capital as of September 30.
The shares are proposed to be purchased again at a value of Rs 4,150.
“The company believes that the buyback is not likely to cause any material impact on the profitability or earnings of the company except to the extent of reduction in the amount available for investment, which the company could have otherwise deployed towards generating investment income,” stated TCS in an trade submitting.
Tata Sons Private Limited intends to tender 2,96,03,690 shares and Tata Investment Corporation Limited intends to tender 11,358 shares.
Promoter and Promoter group shareholding will change from 72.3 % to 72.41 % submit-buyback.
TCS Share Buyback
In 2017, TCS initiated its first share buyback, buying shares valued at 16,000 crore in February at an 18 % premium to the prevailing market value. Subsequently, there have been two extra buybacks in June 2018 and October 2020, every amounting to Rs 16,000 crore and that includes premiums of 18 and 10 %, respectively.
The most up-to-date buyback occurred in January 2022, with the corporate buying shares price Rs 18,000 crore at a premium of 17 %.
