Business

TCS' Share Buyback Offer Closes Today, Generates Good Response

   Download Android App    Share in      FullScreen   CheckVideos

TCS' share buyback plan has generated a good responseIndia's largest IT services company Tata Consultancy Services' (TCS) Rs 18,000 crore share buyback programme is scheduled to end today at 5 pm.It is the company's fourth buyback offer.According to it's regulatory data, till 4 pm on March 22, shareholders had parted with around 220 million shares under the buyback offer.As per reports, the exercise undertaken by TCS is being counted among the largest equity buybacks offered in the country.

Under this, TCS intends to buy back 4 crore shares, which is equivalent to 1.1 per cent of its total equity.The buyback is being conducted at Rs 4,500 per share.The offer has generated an overwhelming response from investors as there has been 5.5 times over-subscription to the issue size even as there are a few more hours to go before the offer closes today at 5 pm.TCS had earlier said that in the reserved category for small shareholders, the ratio of buyback will be one equity share for every seven equity shares held on the record date.In the general category for all other eligible shareholders, the ratio of buyback will be one equity share for every 108 equity shares held on the record date, the company had informed.




Unlimited Portal Access + Monthly Magazine - 12 issues-Publication from Jan 2021

Buy Our Merchandise (Peace Series)

 

Contribute US to Start Broadcasting


It's Voluntary! Take care of your Family, Friends and People around You First and later think about us. Its Fine if you dont wish to contribute and if you wish to contribute then think about the Homeless first and Feed them. We can survive with your wishes too :-). You can Buy our Merchandise too which are of the finest quality.

Debit/Credit/UPI

UPI/Debit/Credit

Paytm

STRIPE

Details
Category: Business


20