Buyback is when a company decides to buy some of its listed shares back from investors. Often, buybacks can offer many short-term investment opportunities. This is because companies usually announce a buyback at a price higher than the existing market price. So, many short-term investors look to buy the shares of the company at the lower market price and submit them in the company’s buyback.
Offer Type
Buyback
Record Date
Nov 25, 2023
Buyback price
4150
| Offer Type | Buyback |
| Record Date | Nov 25, 2023 |
| Buyback price | 4150 |
The Board of TCS in its meeting held on October 11, 2023, approved buyback of 4,09,63,855 (Four Crore Nine Lakh Sixty Three Thousand Eight Hundred Fifty Five) equity shares aggregating up to ₹17,000 crore at ₹4,150 per share. The record date to be eligible for the buyback was set as November 25, 2023.
Click here to read the company announcement.
As a shareholder, you are eligible to participate in the share buyback if you had bought shares on or before November 25, 2023.
Note: Please ensure that you tender your shares for the buyback through the buyback window. Any tender offer made post 11 am on the closing day will not be considered.
The TCS buyback tender window will open on December 1, 2023 and close on December 7, 2023. You can tender the shares during this period via this page
Event
Buyback Opening Date
Date
Dec 1, 2023
Event
Buyback Closing Date
Date
Dec 7, 2023
| Event | Date |
|---|---|
| Buyback Opening Date | Dec 1, 2023 |
| Buyback Closing Date | Dec 7, 2023 |
There are two categories-Retail and General through which one can tender shares in the buyback. The value of shares held in the demat account as of November 25, 2023 end-of-the-day will determine the category through which one shall be eligible to apply.
All shareholders holding not more than 57 number of shares or less will be considered under the Retail category. While those holding more than 57 number of shares will be considered under the General category.
Category
Retail Category
Entitlement Ratio
1 share for every 6 shares held as on record date
Category
General Category
Entitlement Ratio
2 share for every 209 shares held as on record date
| Category | Entitlement Ratio |
|---|---|
| Retail Category | 1 share for every 6 shares held as on record date |
| General Category | 2 share for every 209 shares held as on record date |
To learn more about the buyback, click here.
Yes, even if the shares are pledged, you are eligible for the buyback. For this, you do not need to give any unpledge request for the shares, once buyback request is placed from your end, the system will automatically unpledge the shares. Please note, the system will accept your TCS share buyback request only if you have enough margin after the release of such shares for the buyback. Therefore, please ensure sufficient margin in your account.
If you have a Margin Trading position in TCS as on record date, you are eligible to apply. However, please note that you would need to first convert your Margin Trading position to a Normal position by placing a request with Customer Service. Once the position is converted to Normal, you will be eligible to apply for the buyback.
No, PoA is not needed to tender shares in the buyback. You can apply for buyback by authorizing NSDL MPIN and OTP.
Yes. Since you were holding the shares on record date, you are eligible to apply. You can buy the shares back and tender them in the buyback.
If you tender more shares than your entitlement, then whether these additional shares will be accepted for buyback or not will solely depend on the acceptance ratio decided by the company. The share(s) which do not get accepted shall be credited back to your demat account by the RTA.