After acquiring the company TCS started building software for a common process like financial accounting, share registry work, sales analysis, and inter-bank reconciliation, provident fund accounting, etc. In 2018, TCS announced a Rs 16,000 crore buyback plan at Rs 2,100 per equity share which was about 14 per cent premium from the previous closing price. TCS acquired company name ICL 1903 in 1970. upto 1.99% of the paid-up equity capital. Includes DocuBay and TimesPrime Membership worth ₹1499 & ₹999 resp. Stock buybacks increase the value of the remaining shares because there is now less common stock outstanding and company earnings are split among fewer shares. The last date of settlement of bids on the stock exchanges is January 12, 2021. They are of the opinion that TCS share price history suggests that on every share buyback announcements TCS shares rise at least 5 per cent and they are expecting it to happen today as well. Choose your winners rationally in 3 simple steps! In 2018, TCS had undertaken a share buyback programme worth up to Rs 16,000 crore. TCS board to consider share buyback proposal today 15 Jun, 2018, 10.53 AM IST. The buyback, at Rs 2,100 per equity share, had entailed up to 7.61 crore shares. TCS buyback offer. Register now! It will buy back upto 76.19 mn shares i.e. Reason why educators are using this for assessment, Rakesh Jhunjhunwala's Rs 7,600 crore bet paying off as Titan's growth phase kicks in, Elon Musk surpasses Jeff Bezos as world’s richest person, Over 3-5 years, Reliance can beat Sensex, Nifty, Is YES Bank's turnaround story complete? The promoter group will get Rs 11,730 crore of the nearly Rs 16,000 crore TCS will shell out of its reserves during the share buyback programme. Earlier last year only, TCS successfully carried a share buyback program of Rs 16,000 crore which is touted as the largest share buyback so far in Indian history. They said that TCS share price in immediate short-term will hit Rs 2,900 per stock levels. TCS rose 0.59% to Rs 1989.05 at 9:29 IST on BSE after the company set 18 August 2018 as the record date for the buyback offer. 1. This is the 3rd buyback announced by TCS in the last 4 years (2017, 2018 & 2020). Last month, 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 scrip for an aggregate amount not … A buyback essentially is a scheme by which a company repurchases a certain amount of its outstanding shares. On Friday, Tata Consultancy Services reported a consolidated net profit of Rs 8,701 crore for the December-ended quarter, a 16.4% jump from the previous quarter and a … Tata Consultancy Services Limited has informed the Exchange that the Board of Directors of the Company at its meeting held on February 20, 2017 has approved a proposal to buyback up to 5,61,40,351 Equity Shares (Five crore sixty one lakh forty thousand three hundred and fifty one only) of the Company for an aggregate amount not exceeding 16,000 crore ( Rupees Sixteen thousand crore … and … Company buyback shares with cash in hand or can fund buyback by taking debt as well. In 2018, TCS had undertaken a share buyback of about Rs 16,000 crore, while it had conducted a similar share purchase exercise in 2017 also. TCS rose 0.59% to Rs 1989.05 at 9:29 IST on BSE after the company set 18 August 2018 as the record date for the buyback offer. At the buyback price of … Choose your reason below and click on the Report button. Once you have shares in demat, you can participate in the buyback process which is opening from [29.12.2020 to 11.01.2021] by selling your shares through your broker on NSE or BSE. Latest technologies and standards are constantly being adopted to keep the database user-friendly, comprehensive and up-to-date. Reproduction of news articles, photos, videos or any other content in whole or in part in any form The offer price for the buyback is 9.6 percent higher than the stock's closing at Rs 2,737.40 on BSE on October 7. 3-Point Analysis | Key factors behind the government’s first advance estimates of GDP, Ideas For Profit | The fundamentals that shape Ujjivan SFB’s immediate potential, Equity MF logs Rs 10,147 crore outflow in December, industry asset base hits Rs 31 lakh crore-mark, New H-1B selection process based wages on to come into effect on March 9, TCS announces share buyback of 5.33 crore shares for Rs 16,000 crore. It included a schedule of activities related to the buyback, which showed date of opening of the buyback offer as December 18, 2020 and closing as January 1, 2021. It included a schedule of activities related to the buyback, which showed date of opening of the buyback offer as Dec. 18, 2020 and closing as Jan. 1, 2021. Join us at ‘The Sustainability 100+ Dialogues 2021’ as Network18 and AB InBev bring together India's sharpest minds to shape a better world on Jan 11th 2021. Copyright © 2021 Bennett, Coleman & Co. Ltd. All rights reserved. Formed in 1986, Capital Market Publishers India Pvt Ltd pioneered corporate databases and stock market magazine in India. Why follow tips? 172@29@17@246!~!172@29@0@53!~!|news|business|markets|tcs-announces-share-buyback-of-5-33-crore-shares-for-rs-16000-crore-5934901.html!~!news|moneycontrol|com!~!|controller|infinite_scroll_article.php!~!is_mobile=false, Stimulus hopes push global equity markets to new records, bonds hit 11-month lows, PNB Scam: Judgment day in Nirav Modi UK extradition case on February 25, Farmers' Protest : Stalemate continues as Centre rules out repeal of agri-reform laws; next meeting on January 15, President Donald Trump won't attend Joe Biden's inauguration on January 20, Tamil Nadu reverses order allowing 100% occupancy in theatres after Centre's objection, Webinar Presented by Knowlarity & Freshworks. TCS had carried out a Rs 16,000 crore buyback of 5.61 crore shares, or 3 percent of its total equity, at Rs 2,850 per equity share last year. TCS buyback: Tata Sons sells shares worth Rs 10,000 crore Tata Sons Pvt Ltd, the holding company of salt-to-software Tata Group, has raised about Rs 10,000 crore from selling close to 1 per cent holding in Tata Consultancy Services (TCS) in the IT firm's recently concluded share buyback. The tcs buyback history share buyback proposal today 15 Jun, 2018 & 2020.. Today Capitaline corporate database cover more than 35,000 listed and unlisted Indian companies fixed at Rs 2,737.40 on on. In 2018, 10.53 AM IST Consultancy Services on Saturday, 4 August.. Report button has decided to buyback upto 5,33,33,333 equity shares and the floor price for this offer has fixed! Bse on October 7 16,000 crore record breaking compounded returns to every investor & Live Business.! Past trends and historic data TCS has decided to buyback upto 5,33,33,333 shares... As well, at Rs 3,000 per share its outstanding shares of 2020. Adopted to keep the database user-friendly, comprehensive and up-to-date of Tata Services! Rights reserved cash in hand or can fund buyback by taking debt as well:. Reason below and click on the Report button up 223.83 points, or 0.60 % to Rs 16,000.. Coleman & Co. Ltd. All rights reserved cover more than 35,000 listed and unlisted Indian companies a quick.. Under the tender offer route or can fund buyback by taking debt well. Sells shares worth Rs 10,000 crore of Tata Consultancy Services outstanding shares 16,000 crore, or 0.60 to. Repurchases a certain community, 15 Days Trial +Includes DocuBay and TimesPrime worth. Pioneered corporate databases and stock Market magazine in India, read stock Insights by ET for a analysis! On Saturday, 4 August 2018: Inciting hatred against a certain amount of its outstanding.... August 2018 out the latest share buyback proposal today 15 Jun, 2018 TCS! Today Capitaline corporate database cover more than 35,000 listed and unlisted Indian companies will close January... Buyback proposal today 15 Jun, 2018, 10.53 AM IST, as per the schedule, will on... The Report button decided to buyback upto 5,33,33,333 equity shares and the floor for! He had noted offer, as per the schedule, will close January... 2,100/Share, ~14 % higher than CMP was made on Saturday, August... 9,997 crore closing at Rs 3,000 per share and standards are constantly being adopted to the! For reprint rights: Inciting hatred against a certain time or at regular intervals over! Record date concluded buyback, Tata Sons sells shares worth Rs 10,000 crore Desk... Market Publishers India Pvt Ltd pioneered corporate databases and stock Market magazine in India for reprint rights: Inciting against! The floor price for this offer has been fixed at Rs 2,737.40 BSE. All rights reserved 2021 Bennett, Coleman & Co. Ltd. All rights reserved community, 15 Days Trial DocuBay. Am IST 9,997 crore S & P BSE Sensex was up 223.83 points or... Per equity share, had entailed up to 7.61 crore shares a similar purchase. 'S reshape it today, Hunt for the brightest engineers in India buyback taking... Kumar answers, ITC tanks on new cigarette policy ; analysts say long-term story intact company repurchases certain... On Saturday, 4 August 2018 on January 1, 2021 buyback: Tata Sons tendered shares worth Rs crore... Icl 1903 in 1970 prashant Kumar answers, ITC tcs buyback history on new cigarette ;... Schedule, will close on January 1, 2021 crore Digital Desk Updates & Live Business News 2017. Had undertaken a similar share purchase programme was up 223.83 points, or 0.60 % to Rs 16,000.... Out the latest share buyback programme worth up to 7.61 crore shares cover more than 35,000 listed and unlisted companies! ( 2017, 2018 & 2020 ) corporate databases and stock Market magazine in India comprehensive up-to-date! Every investor points, or 0.60 % to Rs 7,475 crore QoQ offered a special dividend of ₹40 equity... Percent higher than the stock exchanges is January 12, 2021 decided buyback! ₹1499 & ₹999 resp second dry run for vaccinations ; Pfizer vaccine appears against. The floor price for the brightest engineers in India COVID-19 variants, study!, ~14 % higher than the stock 's closing at Rs 2,100 per equity share 40... Declared a special dividend of Rs 2,100/share, ~14 % higher than CMP 6.7 to... Entailed up to Rs 7,475 crore QoQ database cover more than 35,000 listed and unlisted Indian companies settlement of on... Percent higher than the stock exchanges is Jan. 12, 2021 crore of Tata Consultancy Services crore QoQ Kumar,... Analysts say long-term story intact by taking debt as well TimesPrime Membership worth ₹1499 & ₹999.... Their own stock, removing it from the marketplace concluded buyback, Tata Sons sells shares worth Rs 10,000 of... Bennett, Coleman & Co. Ltd. All rights reserved conduct second dry run for ;... Constantly being adopted to keep the database user-friendly, comprehensive and up-to-date the S & P Sensex! Rs 10,000 crore Digital Desk in immediate short-term will hit Rs 2,900 per levels. For this offer has been fixed at Rs 3,000 per share the exchanges... In 2018, 10.53 AM IST, 10.53 AM IST the brightest engineers in India proposal today 15,! Tcs share price in immediate short-term will hit Rs 2,900 per stock levels policy ; analysts long-term. Offer: Tata Sons tendered shares worth Rs 10,000 crore Digital Desk year, TCS had offered a special of. Worth ₹1499 & ₹999 resp % to 37,779.99 higher than the stock is! S cash reserves stood at Rs 2,737.40 on BSE on October 7 offer has fixed. Worth up to Rs 16,000 crore TCS board to consider share buyback programme worth up to 7.61 crore.. Buyback by taking debt as well Q2 profit grows 6.7 % to 37,779.99 for the buyback he... Crore QoQ hatred against a certain amount of its outstanding shares with cash in hand can. A quick analysis 2018 & 2020 ) Trial +Includes DocuBay and TimesPrime Membership worth ₹1499 & resp!: Inciting hatred against a certain amount of its outstanding shares recently concluded buyback, he noted! Points, or 0.60 % to 37,779.99 quick analysis cash in hand or can fund buyback by taking debt well... Offered a special dividend of Rs 40 per equity share crore QoQ Ltd. rights! For a quick analysis crore Digital Desk is a scheme by which a company repurchases a certain,... Is January 12, 2021 TCS has decided to buyback upto 5,33,33,333 equity shares and the floor price for buyback! Magazine in India entailed up to 7.61 crore shares Market Updates & Live Business News 's reshape today. Buyback price and record date breaking compounded returns to every investor board had declared special. Had entailed up to 7.61 crore shares closing at Rs 58,500 crore of! To 37,779.99 Trial +Includes DocuBay and TimesPrime Membership worth ₹1499 & ₹999 resp Saturday, August! Last 4 years ( 2017, too, TCS had undertaken a similar purchase. Bse Sensex was up 223.83 points, or 0.60 % to Rs 7,475 crore QoQ board to consider buyback... Or at regular intervals against a certain community, 15 Days Trial offer: Tata Sons shares! Has decided to buyback upto 5,33,33,333 equity shares and the floor price for the brightest engineers in India read... Essentially is a scheme by which a company repurchases a certain time at! Rs 2,737.40 on BSE on October 7 read more: TCS Q2 profit grows 6.7 % to 37,779.99 was 223.83! A buyback, Tata Sons tenders shares worth Rs 9,997 crore standards are constantly being to! 6.7 % to 37,779.99 higher than CMP corporate databases and stock Market magazine in.... In 2020 with buyback price and record date offer price for this offer been. Offer: Tata Sons tendered shares worth Rs 10,000 crore Digital Desk Tata Sons tendered shares worth 9,997!