Posted on 5th Jun 2017
by Vijay Jain
Feb 20th 2017 - The TCS board of directors has approved the proposal of buy back of 16,000 crore worth of share by acquiring 5.6 crore equity shares or about 3 per cent of the total equity.
Buy back price of TCS share has been finalized at Rs 2,850 per share.
April 17th 2017 – The Equity Shareholders of the Company approved the Buyback offer.
April 18th 2017 – Company Officially announced the Buyback offer.
Detail Article on Benefit from buyback offer >> Read
Suppose if you have TCS shares at Rs 2350 and Buy back offer price is Rs 2850, you can get Rs 500 per accepted share. If you hold 82 shares of TCS and if proportionate acceptance is between 33% to 50%, in such case you are eligible to sell your 26 to 40 shares with the gain from buy back of Rs 13,000 to Rs 20,000.
To participate in TCS buyback offer, record date is May 8th 2017 which means you should hold the TCS share in your demat account by closing session of May 8th 2017. Shares purchased on and before May 6th 2017 will be available in your demat account by May 8th 2017.
Retail Investor can sell upto Rs 200,000 worth of shares.
Buyback opening date for TCS Shares: May 18th 2017
Buyback closing date for TCS Shares: May 31st 2017
This is the window when you need to submit your application for proposal for share buyback. If you are submitting tender forms or submitting physical share certificates, it must reach to registrar by June 2nd 2017.
As this is a buyback tender offer, shares are accepted in proportionate basis. Proportionate acceptance / rejection will be returned back to the eligible shareholders directly by the Registrar – by June 9th 2017.
Money will be directly deposit in your registered bank account. Usually money will be deposited on and after June 9th 2017, which is last date of settlement of bids on the Stock Exchange.
In case of physical shares holding, you will get a check.
Rejected share will be available in your demat account and ready for trading in open market. – by 9th June.
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