TCS Fixes Record Date For Share Buyback Worth Rs 18,000 Crore: 5 Points

14 Feb 2022, 12:23 PM IST

This is the IT major's fourth and biggest buyback in the last five years.

This is the IT major's fourth and biggest buyback in the last five years.
"The members of the company have approved the buyback by passing a special resolution through postal ballot," TCS had mentioned.
TCS' previous buyback offer of around Rs 16,000 crore had opened on December 18, 2020, and closed on January 1, 2021. Around 5.33 crore equity shares were bought back under the offer for Rs 3,000 apiece.
In 2018, India's largest IT services firm repurchased shares worth up to Rs 16,000 crore at Rs 2,100 apiece. A similar exercise was carried out in 2017 as well.
TCS had reported a 12.2 per cent rise in its consolidated net profit to Rs 9,769 crore in the December 2021 (Q3) quarter. Shares of the IT company were trading 1.52 per cent higher at Rs 3,751.60. However, both BSE Sensex and NSE Nifty plunged heavily on Monday amid rising geopolitical tensions.