17-Oct-2023
2 mins read
Tata Consultancy Services Limited has got final approval from its board to propose a buyback offer of 40,963,855 equity shares (representing 1.12% of the total number of equity shares in the paid-up share capital of the Company) through the tender offer route. The buyback amount is Rs 17000.00 crores and the buyback price is Rs 4150 per Equity share.
Tata Consultancy Services Limited Company’s Profile
Tata Consultancy Services Limited (TCS), a subsidiary of the TATA group, serves a broad range of industries, helping businesses leverage technology to drive growth and achieve their objectives.
With a diverse portfolio of services, TCS caters to the dynamic needs of businesses, providing IT and assurance services, digital solutions, business intelligence and performance management, business process services, cloud services, connected marketing solutions, consulting, engineering and industrial services, enterprise solutions, IT infrastructure services, mobility products and services, and platform solutions.
The company offers this vast range of services to industries like banking, finance, insurance, media, telecom, entertainment, manufacturing, retail, and more. TCS provides software solutions such as Digital Software and Solutions, TCS BaNCS, and TCS MasterCraft.
Important Details for Tata Consultancy Services Limited Buyback 2023
| Issue Period | December 1, 2023 – December 7, 2023 |
| Security Name | Tata Consultancy Services Limited |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 40,963,855 |
| Issue Size (Amount) | Rs 17,000.00 Crores |
| Buyback Price | Rs 4150 per share |
| Face Value | Rs 1 per share |
| Listing At | BSE, NSE |
| Record Date | 25-Nov-23 |
Lead managers for Tata Consultancy Services Limited Buyback
The Lead manager of the Tata Consultancy Services Limited Buyback is JM Financial Limited.
Registrar of the Tata Consultancy Services Limited Buyback
The Registrar of Tata Consultancy Services Limited Buyback is Link Intime India Private Limited.
Tata Consultancy Services Limited Financial Information
(Consolidated Rs in Crore)
| Period Ended | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 | 31-Mar-20 |
| Assets | 143,651.00 | 141,514.00 | 130,759.00 | 120,899.00 |
| Revenue | 228,907.00 | 195,772.00 | 167,311.00 | 161,541.00 |
| Profit After Tax | 42,303.00 | 38,449.00 | 32,562.00 | 32,447.00 |
| Reserves and Surplus | 90,058.00 | 88,773.00 | 87,014.00 | 86,063.00 |
FAQs
- What is the buyback price per share?
The buyback price per equity share is Rs 4150.
- How many shares are being purchased in the buyback?
Tata Consultancy Services Limited will buy back 40,963,855 equity shares, which represents 1.12% of the total number of equity shares in the company’s paid-up share capital.
- How much is the total amount allocated for the buyback?
The total buyback amount is Rs 17000.00 Crores.
- How will the buyback process take place?
The buyback will be conducted through the tender offer route. Shareholders who wish to participate can tender (offer) their shares at the buyback price of Rs 4150 per share.
- What is the face value of Tata Consultancy Services Limited’s shares?
The face value of the company’s shares is Rs 1 per share.
- Is it mandatory for shareholders to participate in the buyback?
No, participation in the buyback is entirely voluntary. Shareholders can choose whether or not to tender their shares in the buyback offer