BUYBACK SAGA
The total buyback size is 4,09,63,855 shares
TCS not to raise further capital for a period of one year, from the expiry of the buyback period, except in discharge of subsisting obligations
If response to the buyback is to the extent of 100 per cent from all the shareholders up to their entitlement, the aggregate shareholding of the promoters will increase to 72.41 per cent as against 72.3 per cent now
Last year, TCS had conducted a share buyback when it repurchased shares at Rs 4,500 apiece, totalling Rs 18,000 crore
TCS bought back its shares for the first time in 2017 at an 18 per cent premium to the prevailing price
Three of itsearlier buybacks in 2020, 2018, and 2017 were worth Rs 16,000 crore each
This was followed by two buybacks of Rs 16,000 crore each in June 2018 and October 2020, at 18 and 10 per cent premium, respectively
Last buyback was in January 2022 when the company bought shares worth Rs 18,000 crore at premium of 17 per cent
Company shares closed at Rs 3,470.45 apiece on the BSE against the offer price of Rs 4,150
TCS estimates the buyback will lead to an increase in its EPS (Earnings Per Share) from Rs 58.52 to Rs 59.18 on standalone basis
BUSINESS
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2023-11-29T08:00:00.0000000Z
2023-11-29T08:00:00.0000000Z
https://news.dtnext.in/article/282265260185700
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