TATA CONSULTANCY LIMITED ( TCS ) BuyBack 2020, with Record and Payment Details & History

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.

    TCS BUYBACK 2020

    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 ActivityDate
    Board Meeting for Kanchi Karpoor Ltd Buyback proposal07.10.2020
    Kanchi Karpoor Ltd Buyback Approval date10.10.2020
    Public Announcement of  Buyback21.11.2020
    Buyback Record Date28.11.2020
    Buyback opens on/Buyback Opening Date18.12.2020
    Buyback closes on/Buyback Closing Date01.01.2021
    Cut-off date to receive completed tender forms by Registrar03.01.2021
    Cut-off date for verification by the Registrar11.01.2021
    Cut-off date to inform Stock Exchange on acceptance or
    non-acceptance of tendered Equity Shares by Registrar
    Last date of settlement of bids on the stock exchange12.01.2021
    Last date to return unaccepted shares by Registrar12.01.2021
    Last date of extinguishment of Equity Shares19.01.2021

    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?

    1. Firstly, to be eligible for the buyback the investor should have shares of Tata Consultancy Services Limited (TCS) in demat or physical form as on record date (not announced) 2. Once you have shares in demat, you can participate in the buyback process which is opening from [Not Announced], by selling your shares through your broker on NSE or BSE.  

    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.