Tata Sons nets Rs 11,164 crore from TCS buyback, LIC Rs 528 crore

Close to a million retail investors in TCS tender shares in the just-concluded buyback programme

Tata Sons has pocketed Rs 11,164 crore by tendering 24.81 million shares in the Rs 18,000-crore share repurchase programme by the group's flagship firm Tata Consultancy Services (TCS). Meanwhile, state-owned insurer Life Insurance Corporation (LIC) tendered 1.17 million shares to take home Rs 528 crore.

Small shareholders--those holding shares worth up to Rs 2 lakh--tendered 25.3 million shares in the buyback, 4.22 times the 6 million shares reserved for them in the buyback. All other shareholders tendered 5.7 million, 8.1 times of the 34 million shares the company intended to buyback.

A total of 977,300 valid applications were made by