TCS will buyback nearly 4,00,00,000 shares for about Rs.18000 Crore. In a filing to the stock exchanges, Tata Consultancy Services Limited said it will buyback percent of the fully paid-up equity shares at a price of Rs.4500/- per equity share.
The Board approved the proposal of TCS buyback of fully paid-up equity shares of face value 1 each of the Company for an amount not exceeding 18000 Crores. Tata Consultancy Services Limited Buyback 2022 Size is being 1.08% of the aggregate of the total paid-up Equity Share capital and free reserves of the Company based on the latest standalone and consolidated audited financial statements of the Company respectively as of March 31, 2021. TCS 2022 price is Rs.4,500 per Equity Share through the "tender offer" route, on a proportionate basis.
TCS Buyback 2022 Offer Details:
| Buyback Type: | Tender Offer |
| Buyback Record Date: | Feb 23, 2022 |
| Buyback Opening Date: | Mar 09, 2022 |
| Buyback Closing Date: | Mar 23, 2022 |
| Buyback Offer Amount: | ₹18,000 Crore |
| Date of Board Meeting approving the proposal: | Jan 12, 2022 |
| Date of Public Announcement: | Jan 12, 2022 |
| Buyback Offer Size: | 1.08% |
| Buyback Number of shares: | 4,00,00,000 |
| Price Type: | Tender Route |
| FV: | Rs.1 |
| Maximum Buyback Price: | ₹ 4500 Per Equity Share |
Details Of TCS Buyback
The Board of Directors of the Tata Consultancy Services Limited (TCS) at its meeting held on Jan 12, 2022, has approved a proposal to buy back up to 4,00,00,000 Equity Shares of the Company, being 1.08% of the total paid-up equity share capital of the Company, for an aggregate amount not exceeding Rs.18000 Cr, for Rs.4500 per Equity Share through " Tender Route".
TCS Buyback Important Dates
In this section, we have covered all important dates related to “TCS Buyback Date”. Dates are updated as they are announced. The most noted dates are the TCS record date and TCS buyback open and close dates, which one should use to participate in the buyback.
| Buyback Activity | Date |
|---|---|
| Board Meeting for TCS Buyback proposal | Jan 12, 2022 |
| TCS Buyback Approval date | Feb 12, 2022 |
| Public Announcement of TCS Buyback | Feb 12, 2022 |
| TCS Buyback Record Date | Feb 23, 2022 |
| TCS Buyback opens on/Buyback Opening Date | Mar 09, 2022 |
| TCS Buyback closes on/Buyback Closing Date | Mar 23, 2022 |
| Cut-off date to receive completed tender forms by Registrar | 2022 |
| Cut-off date for verification by the Registrar | 2022 |
| Cut-off date to inform Stock Exchange on acceptance or non-acceptance of tendered Equity Shares by Registrar |
2022 |
| Last date of settlement of bids on the stock exchange | 2022 |
| Last date to return unaccepted shares by Registrar | 2022 |
| Last date of extinguishment of Equity Shares | 2022 |
Note: If anything you want to know about the buyback offer you can refer the TCS buyback offer documents. Click Here
How to Participate in TCS buyback?
- Firstly to be eligible for the buyback the investor should have shares of TCS Buyback 2022 in Demat or physical form as on record date [Feb 23, 2022].
- 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.
- Then on [Not Announced], the payment will be given to you for accepted shares and unaccepted shares will be returned to your Demat account.
Checkout Current TCS Shares market price on NSE and BSE: eClerx ServicesTCS
Profit from the buyback on the basis of acceptance Ratio:
Buy 44 Shares at CMP of Rs.3857 ( 2,00,000/4500=44)| Acceptance Ratio | 33% | 50% | 75% | 100% |
|---|---|---|---|---|
| Amount Invested in Buyback | 1,71,422 | 1,71,422 | 1,71,422 | 1,71,422 |
| No. of Shares buyback | 15 | 22 | 33 | 44 |
| BuyBack Profit | 9645 | 14146 | 21219 | 28292 |
| Profit | 5.6% | 8.25% | 12.37% | 16.5% |
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About TCS:
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
NECESSITY OF BUYBACK By TCS
2.1 The Buyback is being proposed by the Company to service the equity more efficiently. Additionally, the Company’s management strives to increase equity shareholders value and the Buyback would result in amongst other things
a) The Buyback is being done to return surplus funds, after taking into account the strategic and operational cash needs of the Company in the short to medium term
b) The Buyback may help in improving earnings per share, return on equity, by a reduction in the equity base, thereby leading to a long term increase in shareholders’ value;
c) The Buyback gives an option to the equity shareholders, who can either
(i) choose to participate and get cash in place of Equity Shares to be accepted under the Buyback; or
(ii) choose to not participate and enjoy a resultant increase in their percentage shareholding, post the Buyback, without additional investment;
d) The Buyback, which is being implemented through the Tender Offer as prescribed under the Buyback Regulations, shall be from its existing securities holders on a proportionate basis per the provisions of Securities and Exchange Board of India (Buyback of Securities) Regulations, 2018: provided that fifteen percent of the number of securities which the Company proposes to Buyback or number of securities entitled as per their shareholding, whichever is higher, shall be reserved for small shareholders.
Company Contact Information
Tata Consultancy Services LimitedTCS House, Raveline Street, Fort,
Mumbai - 400001
Maharashtra - India
Phone : 67789999
Fax : 67783000
Email : investor.relations@tcs.com
Internet : http://www.tcs.com
TCS Buyback Registrar
Contact Person: Mr.M Murali KrishnaRegd. Off.: Selenium Tower B, Plot 31-32,Financial District, Nanakramguda,Serilingampally Mandal, Hyderabad - 500 032,TelanganaTel.: + 91-40-67162222Fax: + 91-40-23431551Toll Free No: 18003094001Email: tcs.buyback@kfintech.comWebsite: www.kfintech.comSEBI Regn. No.:INR000000221Validity Period: PermanentCIN: U72400TG2017PTC11764
TCS Buyback 2022 FAQs:
When is TCS Record Date?
TCS buyback 2022 record date is Feb 23, 2022.
What is the TCS Buyback Opening Date?
TCS buyback 2022 Opening date is Mar 09, 2022.
What is the TCS Buyback Closing Date?
TCS buyback 2022 Closing date is Mar 23, 2022.
When is TCS Buyback Announcement Date?
TCS buyback 2022 announcement Date is 18-Jan-2022.
What is TCS Buyback Price?
The company has fixed the maximum price of ₹4500
How to apply for TCS Buyback 2022?
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.
