Tata Group company Tata Consultancy Services (TCS) has announced share buyback. It will start from December 1 and will continue till December 7. During this period, investors can sell the company back at Rs 4150 per share. Currently, on Tuesday, November 28, TCS shares were trading at Rs 3470.50. Here we are giving you detailed information about share buyback.
TCS share price: Share buyback of Tata Consultancy Services (TCS) will start from December 1 (TCS Share buyback). The company gave this information on Tuesday. Investors can apply for buyback till December 7.
During buyback, investors can sell the company back at Rs 4150 per share. When the stock market closed on Tuesday, the company’s stocks were trending at Rs 3470.45 in the Bombay Stock Market (BSE).
Important information related to TCS Share Buyback
The share buyback of TCS, the country’s leading software company, is worth about Rs 17,000 crore. For this, small shareholders who have invested less than Rs 2 lakh have been added.
The eligibility ratio record date for buyback is till November 25. Whereas 1 equity share has been fixed for 6 shares, after which the ratio becomes approximately 17%.
Promoters’ stake will increase
TCS says that the company’s EPS on standalone basis from buyback is currently Rs 58.52, which will increase to Rs 59.18 after this.
It is expected that after this buyback, the net worth of the company will increase to 62.56 percent. Currently it is 49.89 percent. The company said that the promoters’ stake will increase from 72.3 percent to 72.41%.
Two companies of Tata Group are also showing interest
Regarding the buyback of TCS, two Tata group companies – Tata Sons and Tata Investment Corporation are showing interest in the buyback.
There are 4,09,63,855 shares in this buyback, in which both the companies together can bid for 2,96,15,048 equity shares.
