On Friday, November 24, 2023, i.e. today, the shares of Tata Consultancy Services (TCS) reportedly opened the same as it was the previous close. The share price was flat despite the trading ex-bonus. Under the lens of investors and observers of the stock market, the share of Tata Consultancy Services remained unchanged despite trading ex-date for buyback of shares. To note, Tata Consultancy Services buyback date has been announced as November 25, 2023. This buyback date has been decided on an ex-trade basis. What is the opening date of the TCS buyback? Obviously, numerous questions have been swirling in your mind regarding the same. In the following sections, we have mentioned each and every imperative detail linked to the buyback of TCS shares. Continue reading this article and go through it till the end. Scroll down.
According to the reports, the buyback of TCS shares will start on December 1, 2023, and it will remain open for a week till December 7, 2023. What is the fixed price of TCS buyback share price? Reportedly, the buyback price of Tata Consultancy Services shares has been fixed at Rs 4150 per share. Recently, TCS issued a letter to inform India Stock Market exchanges about the buyback of its shares. Continue reading this article and learn more.
The letter reads, “This is in furtherance of our letter no. TCS/BB/SE/201/2023-24 dated November 15, 2023 and letter no. TCS/BM/162/SE/2023-24 dated October 11, 2023, informing the decision of the members of the Company and the board of directors respectively, to back up to Four crores nine lakh sixty-three thousand eight hundred and fifty-five (4,09,63,855) fully paid-up equity shares of the face value of Rs 1 each at Rupees four thousand one hundred and fifty only (Rs 4,150) per equity share for an aggregate amount not exceeding Rs 17,000 crore excluding applicable taxes, transaction costs, and other incidental and related expenses.” Shift to the next section and read more details.
The summary of the news is that the IT giant has declared a buyback of shares at Rs 4,150 per share. The buyback offer will be available from December 1, 2023, to December 7, 2023. Furthermore, the record date for the buyback of TCS shares has been declared on November 25, 2023, on an ex-date basis. The Indian stock market experts are anticipating a large number of applications for the TCS buyback issue as it is available at a premium of 20%. Stay tuned to this website for more details and further updates.