TCS Buyback 2023: Tata Consultancy Services, or TCS, is poised to attract scrutiny from stock market participants today as its shares trade ex-bonus. According to the latest exchange filing from the Indian IT giant, the TCS buyback date has been scheduled for November 25, 2023, with the record date set on an ex-trade basis.

The share buyback window will open on December 1, 2023, and extend until December 7, 2023. The predetermined TCS buyback price stands at ₹4,150 per share.

Details of TCS Buyback Date, Price, and More: In its communication to Indian stock market exchanges, TCS stated, “This is in furtherance of our letter no. TCS/BM/162/SE/2023-24 dated October 11, 2023, and letter no. TCS/BB/SE/201/2023-24 dated November 15, 2023, informing the decision of the board of directors and the members of the Company, respectively, to buyback up to 4,09,63,855 fully paid-up equity shares of face value of Re 1 each at ₹4,150 per equity share for an aggregate amount not exceeding ₹17,000 crore excluding transaction costs, applicable taxes and other incidental and related expenses (“Buyback”).”

Key TCS Buyback Details:

  1. TCS Buyback Price: The Indian IT major has announced a buyback of shares at ₹4,150 per share.
  2. TCS Buyback Date: The buyback offer is set to commence on December 1, 2023, and will conclude on December 7, 2023.
  3. TCS Buyback Record Date: The record date for the share buyback has been established as November 25, 2023, on an ex-date basis.
  4. TCS Buyback Acceptance Ratio: Market analysts anticipate a substantial number of applications for the TCS buyback issue, given the premium of nearly 20 per cent. Short-term investors are expected to tender their shares, citing a less favorable outlook for TCS share prices in the short to medium term.
  5. TCS Buyback Size: In this buyback offer, TCS plans to issue 4,09,63,855 fresh shares, extracting ₹17,000 crore from its capital reserves.

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