TCS' Rs 18,000 cr share buyback subscribed 4.5 times a day before close

According to an analysis done by Edelweiss Alternative Research, the acceptance ratio of TCS share buyback for retail investors could be 14.3 per cent

The Rs 18,000-crore share buyback programme of Tata Consultancy Services, India’s second-most valuable firm, has attracted a large number of shareholders. So far, 180 million shares have got tendered, 4.5 times the company intends to repurchase. The Tata group flagship firm will buyback 40 million shares, 1.08 per cent of its equity. The buyback is being done at Rs 4,500 per share—nearly 24 per cent premium to current market price. Shares of TCS last traded at Rs 3,633. The tender route buyback, which commenced on March 9, ends tomorrow.

According to an analysis done by Edelweiss Alternative Research, the acceptance