TCS buyback offer: Tata Sons tenders shares worth Rs 9,997 crore . Reproduction of news articles, photos, videos or any other content in whole or in part in any form 2,100 per Equity Share. The 1:1 bonus issue by TCS in June 2018 and its buyback in September 2018 brought Tata Sons a windfall of around Rs 22,500 crore in buybacks and dividend income in … TCS has decided to buyback upto 5,33,33,333 equity shares and the floor price for this offer has been fixed at Rs 3,000 per share. The announcement was made on Saturday, 4 August 2018. The company’s cash reserves stood at Rs 58,500 crore as of September 2020. TCS unveiled its tagline “Experience Certainty” in 2005.In the same year, TCS won a deal valued at $847 million (£486 Million) to provide insurance back office transaction processing services to the UK-based Pearl Group.. TCS also acquired Sydney-based Financial Network Services for approximately US$ 26 million and Chilean business process outsourcing company, Comicrom, for $23 million. Tomorrow is different. Reason why educators are using this for assessment, Rakesh Jhunjhunwala's Rs 7,600 crore bet paying off as Titan's growth phase kicks in, Elon Musk surpasses Jeff Bezos as world’s richest person, Over 3-5 years, Reliance can beat Sensex, Nifty, Is YES Bank's turnaround story complete? Tata Consultancy Services Limited (TCS) Board of Directors of the Company at its meeting held on 15 June 2018 has approved a proposal to buy back up to 7,61,90,476 Equity Shares (Seven crores sixty one lakh ninety thousand four hundred and seventy six only) of the Company for an aggregate amount not exceeding 16,000 crore (Rupees sixteen thousand crore only) (hereinafter … upto 1.99% of the paid-up equity capital. The Board of Directors of Tata Consultancy Services Ltd, at its meeting held on June 15, 2018 has approved a proposal to buyback up to 76,190,476 Equity Shares (Seven crore sixty one lakh ninety thousand four hundred and seventy six only) of the Company for an aggregate amount not exceeding Rs 16,000 crore (Rupees Sixteen Thousand crore only), being 1.99% of the total paid up … Stock buybacks are when companies buy back their own stock, removing it from the marketplace. With … Going by the past trends and historic data TCS has given record breaking compounded returns to every investor. Reproduction of news articles, photos, videos or any other content in whole or in part in any form or medium without express writtern permission of moneycontrol.com is prohibited. Days Trial In 2018, TCS had undertaken a share buyback of about Rs 16,000 crore, while it had conducted a similar share purchase exercise in 2017 also. The offer price for the buyback is 9.6 percent higher than the stock's closing at Rs 2,737.40 on BSE on October 7. TCS had carried out a Rs 16,000 crore buyback of 5.61 crore shares, or 3 percent of its total equity, at Rs 2,850 per equity share last year. Company buyback shares with cash in hand or can fund buyback by taking debt as well. Tata Sons, the holding company of salt-to-software Tata Group, has raised about Rs 10,000 crore from selling close to 1 per cent holding in Tata Consultancy Services … In 2017, too, TCS had undertaken a similar share purchase programme. New Delhi: India’s largest IT services firm Tata Consultancy Services (TCS) on Wednesday said its up to Rs 16,000-crore share buyback programme will commence on December 18 and close on January 1, 2021. Read more: TCS Q2 profit grows 6.7% to Rs 7,475 crore QoQ. Days Trial. Choose your reason below and click on the Report button. Latest technologies and standards are constantly being adopted to keep the database user-friendly, comprehensive and up-to-date. TCS buyback: Tata Sons sells shares worth Rs 10,000 crore Digital Desk. TCS said in a regulatory filing on Wednesday. Earlier last year only, TCS successfully carried a share buyback program of Rs 16,000 crore which is touted as the largest share buyback so far in Indian history. Once you have shares in demat, you can participate in the buyback process which is opening from [29.12.2020 to 11.01.2021] by selling your shares through your broker on NSE or BSE. Your Reason has been Reported to the admin. Read stories listed under on TCS buyback offer. +Includes DocuBay and TimesPrime Membership worth ₹1499 & ₹999 resp. India's largest IT services firm Tata Consultancy Services (TCS), on October 7, announced a share buyback proposal of Rs 16,000 crore. It will buy back upto 76.19 mn shares i.e. They said that TCS share price in immediate short-term will hit Rs 2,900 per stock levels. Last year, TCS had offered a special dividend and this time it is undertaking a buyback, he had noted. Aditya Birla Sun Life Tax Relief 96 Direct-Growt.. TCS buyback: Here’s how market reacted to previous 5 biggest buybacks in Indian history, NEW DELHI: The TCS announcement of the biggest share buyback in the history of Indian. TCS rose 0.59% to Rs 1989.05 at 9:29 IST on BSE after the company set 18 August 2018 as the record date for the buyback offer. The company said: "The board has approved a proposal to buy back up to 5,33,33,333 equity shares, being 1.42 percent of the total paid-up equity share capital, at Rs 3,000 per equity share for an aggregate amount not exceeding Rs 16,000 crore (excluding taxes and related expenses), on a proportionate basis under the tender offer route using the stock exchange mechanism, subject to the approval of the members by means of a special resolution through a postal ballot. Why follow tips? Coronavirus Essential | States conduct second dry run for vaccinations; Pfizer vaccine appears effective against new COVID-19 variants, says study. Mumbai: Tata Consultancy Services Ltd (TCS) said on Monday that it would buy back shares worth Rs16,000 crore at a fixed price of Rs2,850 each. The offer, as per the schedule, will close on January 1, 2021. Meanwhile, the S&P BSE Sensex was up 223.83 points, or 0.60% to 37,779.99. 160 bn (max.). Copyright © e-Eighteen.com Ltd. All rights reserved. On Friday, Tata Consultancy Services reported a consolidated net profit of Rs 8,701 crore for the December-ended quarter, a 16.4% jump from the previous quarter and a … TCS board to consider share buyback proposal today 15 Jun, 2018, 10.53 AM IST. They are of the opinion that TCS share price history suggests that on every share buyback announcements TCS shares rise at least 5 per cent and they are expecting it to happen today as well. Stock Buyback Definition. Register now! and … Before TCS announced India’s biggest share buyback of Rs 16,000 crore share via the tender route, Reliance Industries carried out the biggest share buyback worth Rs 10,440 crore between February 1, 2012 and January 19 2013. Let's reshape it today, Hunt for the brightest engineers in India, Read Stock Insights by ET for a quick analysis. 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