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Over 99 percent TCS investors approve share buyback >> Get Ncdex Tips
Over 99 percent of investors of Tata Consultancy Services Ltd (TCS) voted in favor of its special resolution on buyback of 5.61 crore equity shares of Re 1 face value for Rs 16,000 crore, said the software major on Monday. "In all, 7,341 members voted in favor of the resolution and 577 against it through the electronic voting system and physical ballot form between March 17 and April 15," said the city-based IT firm in a regulatory filing on the BSE and NSE.
With 179,68,85,635 shares cast in favor, the total number of valid votes case is 99.81 per cent, while the number of shares against was 34,85,059 or 0.19 per cent of the valid votes cast.
Votes of 341 members or investors and their 37,788 shares were declared invalid.