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TCS fixes record date for Rs 16,000 crore share buyback as 18th August 2018.

The buyback will take place through the tender route, in which TCS will accept shares on a proportionate basis during the buyback period. According to Sebi's mandate, companies have to reserve 15% of any buyback for small shareholders with holdings of less than Rs 2 lakh. This will increase the acceptance ratio for TCS retail investors who want to participate in the buyback offer.(Source : Mint)

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  • TCS fixes record date for Rs 16,000 crore share buyback as 18th August 2018.
    2018-08-11, By: System Administrator

    India's biggest IT services company TCS has announced 18 August, 2018, as the record date for buyback of shares. TCS shareholders will be able to participate in the buyback, if they holds shares in their demat accounts as on the record date.

    A buyback is a mechanism through which a company repurchases a specific amount of its outstanding shares. Buybacks help to improve the earnings per share and return on equity. "We would like to inform you that the promoter and promoter group of the company have communicated their intention to participate in the proposed buyback" TCS had said in a BSE filing.

    The buyback will take place through the tender route, in which TCS will accept shares on a proportionate basis during the buyback period. According to Sebi's mandate, companies have to reserve 15% of any buyback for small shareholders with holdings of less than Rs 2 lakh. This will increase the acceptance ratio for TCS retail investors who want to participate in the buyback offer.(Source : Mint)

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