Friday, 19 May 2017

TCS begins buyback of 5.61 cr shares - FREE TRIALS and more-

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Tata Consultancy Services Ltd (TCS) on Thursday commenced the buyback of its 5.6 crore shares for Rs 16,000 crore at Rs 2,850 per equity share of Re 1 face value, the global software major said on Thursday.

"The buyback period, which began on Thursday, will close on May 31. The letter of offer for the buyback of shares, being 2.85 per cent of the total paid-up equity share capital, has been sent to eligible shareholders by May 16," said a company official.

In a regulatory filing on Tuesday, the IT bellwether said the last date for receiving the completed tender forms, including share certificates is June 2 and settlement of bids on the stock exchange is June 9.

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