India’s largest IT company Tata Consultancy Services has announced a buyback of 5,33,33,333 (Five crore thirty three lakh thirty three thousand three hundred thirty three) equity shares for an aggregate amount of not more than Rs.16,000 crore with a pricing of Rs.3000 per share. The proposal was approved by the board of Tata Consultancy Services Ltd. In the meeting held on 7th October.
The 5.33 crore equity shares counts for 1.42 % of the total paid-up equity shares of the firm given at a price of Rs.3000 per share that means it is being given at a premium of 9.6% at Wednesday’s closing price of Rs.2737.40 on BSE. Although people were expecting a much higher buyback of somewhere around Rs.25,000 crore considering they had Rs.50,000 of net cash.
TATA CONSULANCY SERVICES LTD ( TCS ) BuyBack 2020 Offer Deal:
| Buyback Type: | Tender Offer |
| Buyback Record Date: | November 28 2020 |
| Buyback Offer Amount: | ₹ 16000 Crore |
| Date of Board Meeting approving the proposal: | Oct 07 2020 |
| Date of Public Announcement: | Oct 07 2020 |
| Buyback Offer Size: | 1.42% |
| Buyback Number of s: | 5,33,33,000 |
| Price Type: | Tender Offer |
| FV: | 10 |
| Buyback Price: | ₹ 3000 Per Equity Share |
TCS ( Tata Consultancy Services Limited ) buyback of 5.33 crore equity shares which is around 1.42% of all the existing number of equity shares at a price of ₹3000 per equity share. The buyback offer not exceeding of ₹16000 crore of total buyback offer size.
Note: If anything you want to know about the buyback offer you can refer the TCS buyback offer documents. Click Here
Tata Consultancy LTD (TCS ) Buyback Important Dates
| Buyback Activity | Date |
|---|---|
| Board Meeting for Kanchi Karpoor Ltd Buyback proposal | 07.10.2020 |
| Kanchi Karpoor Ltd Buyback Approval date | 10.10.2020 |
| Public Announcement of Buyback | 21.11.2020 |
| Buyback Record Date | 28.11.2020 |
| Buyback opens on/Buyback Opening Date | 18.12.2020 |
| Buyback closes on/Buyback Closing Date | 01.01.2021 |
| Cut-off date to receive completed tender forms by Registrar | 03.01.2021 |
| Cut-off date for verification by the Registrar | 11.01.2021 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance of tendered Equity Shares by Registrar | 11.01.2021 |
| Last date of settlement of bids on the stock exchange | 12.01.2021 |
| Last date to return unaccepted shares by Registrar | 12.01.2021 |
| Last date of extinguishment of Equity Shares | 19.01.2021 |
About Tata Consultancy Ltd Company
Tata Consultancy Services Limited (TCS) is engaged in providing information technology (IT) services, digital and business solutions. The Company’s segments include banking, finance and insurance services (BFSI); manufacturing; retail and consumer packaged goods (CPG); telecom, media and entertainment, and others, such as energy, resources and utilities, hi-tech, life science and healthcare, s-Governance, travel, transportation and hospitality, and other products. Its services portfolio consists of IT and assurance services, business intelligence and performance management, business process services, cloud services, connected marketing solutions, consulting, engineering and industrial services, enterprise solutions, IT infrastructure services, mobility products and services and platform solutions. Its software offerings include Digital Software and Solutions, TCS BaNCS and TCS MasterCraft, among others. It serves industries, including insurance, healthcare, retail, telecom and others.
How to Participate in buyback?
3. Then on [Not Announced] the payment will be given to you for accepted shares and unaccepted shares will be returned to your demat account.
TCS Buyback 2020 FAQs:
When is TCS Buyback Record Date?
TCS buyback 2020 record date is 28 November 2020
When is TCS Buyback announcement Date?
TCS buyback 2020 record date is 07 October 2020.
What is TCS Buyback Price?
The company has fixed the price at ₹3000
How to apply for TCS Buyback 2020?
As per the record date you need to have TCS shares in your demat account. You can participate in buyback after having the stock in your account.
 BuyBack 2020, with Record and Payment Details & History){kind=link}