India’s largest IT services firm Tata Consultancy Services (TCS) on Wednesday said its up to ₹16,000-crore share buy-back programme will commence on December 18 and close on January 1, 2021.
Last month, TCS shareholders had approved a proposal to buy back up to 5,33,33,333 equity shares of the company at ₹3,000 per scrip for an aggregate amount not exceeding ₹16,000 crore.
“In accordance with the SEBI (Buy-back of Securities) Regulations, 2018, the letter of offer will be dispatched to eligible shareholders on or before December 15, 2020. The record date for this purpose is November 28, 2020...,” TCS said in a regulatory filing on Wednesday.
