TCS board approves buyback of Rs18,000cr at a floor price of Rs4,500 per equity share

13 Jan 2022 , 11:28 AM

Tata Consultancy Services (TCS) has received board of directors approval for a buyback of up to 4cr equity shares aggregating to Rs18,000cr.

The Buyback size is 1.08% of the total paid-up equity share capital of the company.

A floor price of Rs4,500 per equity share has been set for TCS buyback.

The Buyback Size does not include transaction costs, applicable taxes and other incidental and related expenses.

The Buyback is subject to the approval of the Shareholders through a special resolution through a postal ballot. The public announcement setting out the process, timelines and other requisite details will be released in due course following the Buyback Regulations.

At around 11.27 AM, TCS was trading at Rs3872.65 per piece up by 0.4% on Sensex.