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-good today. According to the exchange of the Indian IT giant, TCS buyback date has been fixed on November 25, 2023 and this TCS buyback date has been fixed on ex-trade basis.
The share buyback will open on December 1, 2023 and it will remain for offer until December 7, 2023. The price of TCS buybaqck has already been declared at ₹4,150 per share.
TCS buyback date, price, other details
Informing Indian stock market exchanges about the share buyback, TCS said, “This is in support of our letter no.TCS/BM/162/SE/2023-24 dated October 11, 2023 and letter no.TCS /BB/SE/. 201/2023-24 of November 15, 2023, informing the decision of the board and the members of the Company, respectively, to buy back up to 4,09,63,855 (Four crores nine lakh sixty three thousand eight hundred and fifty five ) fully paid equity shares of a nominal 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 crores (Rupees seventeen thousand crores only) excluding transaction costs, applicable taxes and other incidental and related expenses (“Buyback”).”
Here we list important details about TCS buyback:
1) Buy back price of TCS: The Indian IT major has declared a share buyback at ₹4,150 per share.
2) TCS Redemption Date: The buyback offer will open on December 1, 2023 and will remain open until December 7, 2023.
3) Date of TCS record buyback: The record date for share repurchases has been set at November 25, 2023 on an ex-date basis.
4) TCS buyback acceptance ratio: Market experts are expecting a high number of applications against the TCS buyback issue as issue is available at a premium of nearly 20 percent. They said that soon investors are expected to bid their shares as the outlook for the TCS share price in the short to medium term looks bleak.
5) Buyback size of TCS: In this buyback offer, TCS will issue 4,09,63,855 fresh shares and issue ₹17,000 crore from its capital reserves.
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Updated: 24 Nov 2023, 09:56 IST