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TCS Buyback: All You Need to Know in 2023 - ICICI Direct

India's biggest IT services player Tata Consultancy Services (TCS) has come up with a 17,000 cr. Shares buyback plan its 5th in last 6 years. The IT major, on October 11, had announced to buyback up to 4,09,63,855 fully paid-up equity shares of face value of ₹1 each at ₹4,150 per equity share for an amount equivalent to 17,000 crore.

Buyback History

Buyback Date

Share Buyback price

Total Buyback Amount

Acceptance Ratio (Retail)

May 18, 2017

Rs 2,850.00

Rs 16,000.00 Cr

100.00%

Sep 06, 2018

Rs 2,100.00

Rs 16,000.00 Cr

100.00%

Dec 18, 2020

Rs 3,000.00

Rs 16,000.00 Cr

100.00%

Mar 09, 2022

Rs 4,500.00

Rs 18,000.00 Cr

24.00%

 

The company has fixed Saturday, November 25, 2023, as the Record Date for the purpose of determining the entitlement and the names of the equity shareholders who shall be eligible to participate in the buyback.

Buyback Details

Security Name

Tata Consultancy Services Limited

Issue Type

Tender Offer

Issue Size (Shares)

4,09,63,855.00

Issue Size (Amount)

₹17,000.00 Crores

Buyback Price

₹4150 per share

Face Value

₹ 1

Listing At

BSE, NSE

 

Record Date

November 25, 2023

Offer Opens On

December 1, 2023

Last Date for receipt of Tender Forms

December 7, 2023

Offer Closes On

December 7, 2023

Finalisation of Buyback Acceptance

December 13, 2023

 

Last Date for settlement of bids

December 14, 2023

Last Date for Extinguishment of Shares

December 26, 2023

 

Past Performance

Tata Consultancy Services Limited's revenuehas been continuously increasing every year. It has increased by 16.93% and profit after tax (PAT) rose by 10.02% between the financial year March 31, 2023 and March 31, 2022.

Period Ended

31-Mar-23

31-Mar-22

31-Mar-21

31-Mar-20

Assets

1,43,651.00

1,41,514.00

1,30,759.00

1,20,899.00

Revenue

2,28,907.00

1,95,772.00

1,67,311.00

1,61,541.00

Profit After Tax

42,303.00

38,449.00

32,562.00

32,447.00