India’s largest IT services firm Tata Consultancy Services (TCS) on Wednesday said it is all set for its share Buyback of Rs 16,000 crore.
Buyback date
Share buyback programme will commence on December 18 and close on January 1, 2021.
Quantity and Price
TCS shareholders had approved a proposal to buy back up to 5,33,33,333 equity shares of the company at Rs 3,000 per share.
Settlement date
The last date of settlement of bids on the stock exchanges is January 12, 2021.
Company’s Financial
The Mumbai-based company’s cash reserves stood at Rs 58,500 crore as of September 2020.
Last year, TCS had offered a special dividend and this time it is undertaking a buyback, he had noted.
In October last year, TCS’ board had declared a special dividend of Rs 40 per equity share.
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