TCS buyback set to open on December 1; here are the details

TCS share price, TCS buyback: The share buyback of Tata Consultancy Services (TCS) will open on December 1, the company informed bourses on Tuesday, November 28. The closing date for the same is December 7, 2023. At the time of writing this news, shares of the company were trading at Rs 3,471.90, up 0.41 per cent on the BSE.

Here is the schedule of activities

Source: Exchange filing

The IT major's board earlier gave a nod to buy back up to 4,09,63,855 equity shares of the company for an aggregate amount not exceeding Rs 17,000 crore, representing 1.12 per cent, of the total paid-up equity share capital, at Rs 4,150 apiece in a meeting held on October 11. To avail of the offer of the latest buyback from the IT company, one needs to own TCS shares in their demat account as of the record date, which was November 25.

TCS Buyback Entitlement

For small or retail shareholders, the entitlement ratio is one equity share for every six equity shares held on the record date, and for all other eligible shareholders, the entitlement ratio is two equity shares for every 209 equity shares held on the record date.

ALSO READ | TCS buyback: Will it be worth tendering shares in the buyback?
 

On Monday, the country's largest IT services exporter TCS announced its tie-up with Amazon Web Services to launch a dedicated generative artificial intelligence practice. The Tata Group company recently announced that it has imparted foundation training on GenAI for 1 lakh employees across the world. READ MORE