Mar 05, 2022 11:31 pm
Tata Consultancy Services (TCS) today released the dates of its Rs 18,000-crore share buyback offer. The offer was announced in January this year and the dates for the same are released just before a while. The offer will open on March 9, and the window will close at 5 pm on March 23, it said.
Sharing details of the buyback entitlement, TCS mentioned the category and the ratio of buyback, under reserved category for small shareholders it will be "1 equity share for every 7 equity shares held on the record date".
In the general category for all other eligible shareholders, it will be "1 equity share for every 108 equity shares held on the record date".
Notably, this will be TCS' fourth buyback and, in the earlier three buybacks, Tata Sons was the biggest beneficiary.
In 2021, TCS bought back over 53 million shares at Rs 3,000 a share and 33.33 million shares were accepted under the offer. In 2017 and 2018 as well, it undertook two buybacks and the size was around Rs 16,000 crore each. At the end of September 2021, TCS had cash and cash equivalents of Rs 51,950 crore.