TCS buyback 2023: Tata Consultancy Services or TCS share price is expected to remain under the lens of stock market investors and observers as it is trading ex-bonus today. As per the exchange filing of the Indian IT giant, TCS buyback date has been fixed on 25th November 2023 and this TCS buyback record date has been fixed in ex-trade basis.
The buyback of shares will open on 1st December 2023 and it will remain for tender till 7th December 2023. TCS buybaqck price has been declared already at ₹4,150 per share.
TCS buyback date, price, other details
Informing Indian stock market exchanges about the buyback of shares, TCS said, “This is in furtherance of our letter no. TCS/BM/162/SE/2023-24 dated October 11, 2023 and letter no. TCS/BB/SE/201/2023-24 dated November 15, 2023, informing the decision of the board of directors and the members of the Company, respectively, to buyback up to 4,09,63,855 (Four crore nine lakh sixty three thousand eight hundred and fifty five) fully paid-up equity shares of face value of Re 1 each at ₹4,150 (Rupees four thousand one hundred and fifty only) per equity share for an aggregate amount not exceeding ₹17,000 crore (Rupees seventeen thousand crore only) excluding transaction costs, applicable taxes and other incidental and related expenses (“Buyback”).”
Here we list out important TCS buyback details:
1] TCS buyback price: The Indian IT majjor has declared buyback of shares at ₹4,150 per share.
2] TCS buyback date: The buyback offer will open on 1st December 2023 and it will remain open till 7th December 2023.
3] TCS buyback record date: The record date for buyback of shares has been fixed on 25th November 2023 on ex-date basis.
4] TCS buyback acceptance ratio: Market experts are expecting high number of applications against the TCS buyback issue as issue is available at a premium of near 20 per cent. They said that short term investors are expected to tender their shares as outlook for TCS share price in short to medium term looks gloomy.
5] TCS buyback size: In this buyback offer, TCS will issue 4,09,63,855 fresh shares and fish out ₹17,000 crore from its capital reserves.
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Updated: 24 Nov 2023, 09:56 AM IST