TCS concludes Rs 18,000-cr buyback; Tata Sons could rake in Rs 13k cr

Over 301 million shares tendered in buyback-8.5 times the company intended to repurchase. Attractive buyback price lured investors into tendering their shares, say experts

TCS is already working with various government departments (central and state) on proof-of-concepts on the use of IoT and analytics.
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Samie Modak Mumbai
Tata Consultancy Services (TCS) on Wednesday concluded its Rs 18,000-crore share repurchase programme–its fourth since 2017. Promoter Tata Sons, which owns 72.19 per cent stake in TCS, is likely to pocket nearly Rs 13,000 crore from the buyback.

According to data provided by stock exchanges, over 301 million shares were tendered in the buyback–8.5 times the company intended to repurchase. Attractive buyback price lured investors into tendering their shares, said experts. The buyback was done at Rs 4,500 per share, a premium of over 21 per cent to TCS’ last closing price of Rs 3,708.

TCS had set February 23

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First Published: Mar 23 2022 | 8:18 PM IST

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