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June 15, 2018: Tata Consultancy Services (BSE:532540 | NSE:TCS) board has approved a proposal for buyback of up to 7.6 Cr shares at Rs 2100 per share, aggregating Rs 16,000 cr which is 2.0% of total number of paid-up equity shares capital.
June 13, 2018: This is second consecutive year where TCS has planned for Buyback. The company has a good amount of cash and company need to distribute this via buyback or dividend to shareholders.
Last year 2017-2018 company performed 16,000 Cr buyback. Market Price when buyback was announced was 2350 and buyback price was finalized on 2850. In such case person who proposed his share for buyback has got approx 500 per share. For retail investor acceptance ration was 100%.
After Buyback Company has split his share in 1:1 so the current market price for TCS is around 1800.
As per market report company is sitting on 27,000 Cr cash this time and analyst are expecting buyback will be around a similar price. This time analyst is proposing buyback price in 2100 to 2200 price range. TCS board is meeting on June 15th 2018, to approve buyback proposal.
Below is the complete details about TCS Buyback. Record date, buyback open and close dates are announce in below section.
Buyback Type: | Tender Offer |
Buyback Offer Amount: | Rs 16,000 Cr |
Buyback Number of Shares: | 7.6 Cr |
Buyback Price: | Rs 2100 |
Buyback Offer Size (In %): | 2% |
Total Share Capital: | Rs 687,592.96 Cr |
Face Value: | 1 Per Equity Share |
Can I Invest today to participate in TCS buyback offer? No
In this section we have covered all important dates related to TCS Buyback. Dates are updated as they are announced. The most noted dates are record date and buyback open and close dates, which one should use to participate in buyback.
Buyback Activity | Date |
---|---|
Board Meeting for Buyback proposal | 15th Jun 2018 |
Buyback Approval date | 15th Jun 2018 |
Public Announcement of Buyback | 15th Jun 2018 |
Record Date | 18th Aug 2018 |
Buyback opens on/Buyback Opening Date | 6th Sep 2018 |
Buyback closes on/Buyback Closing Date | 21st Sep 2018 |
Cut-off date to receive completed tender forms by Registrar | |
Cut-off date for verification by the Registrar | 23rd Sep 2018 |
Cut-off date to inform Stock Exchange on acceptance or non-acceptance
of tendered Equity Shares by Registrar |
23rd Sep 2018 |
Last date of settlement of bids on the stock exchange | 3rd Oct 2018 |
Last date to return unaccepted shares by Registrar | 3rd Oct 2018 |
Last date of extinguishment of Equity Shares | 5th Oct 2018 |
Stock Holding table gives a clear picture on retail investor holdings of TCS shares which helps investor to decide on participating in buyback offer. The less number of retail holdings means higher chance of acceptance in buyback under retail category which is equal to higher profit.
Holding Type | In % |
---|---|
Promoter-Foreign | 0.0% |
Promoter-Indian | 71.92% |
Non-Promoter-Institutions | 23.65% |
Non-Promoter-Non-Institutions | 4.43% |
Category | Entitlement Ratio of Buyback Per Equity Shares | Entitlement Ratio of Buyback in % |
---|---|---|
Reserved Category | 43 Equity Share out of every 96 fully paid-up Equity Share held on the Record Date. | 44.97 |
General Category | 4 Equity Share out of every 235 fully paid-up Equity Share held on the Record Date. | 1.70% |
For TCS Buyback Offer, Report updated by the manager of buyback -
In general category - response received 166.40%, No. of Equity Shares reserved in Buyback was 64761904 where valid bid received for retail category was 107767024 which is 166.40% oversubscribed.
In Reserved category for Small Shareholders (Retail) - response received only 35.12%, No. of Equity Shares reserved in Buyback was 11428572 where valid bid received for retail category was 4016984 which is 35.12%. Final Acceptance Ratio for Retail Investors was 100%.
The table below will give you a complete dashboard view for all open buyback offer in current market.
Company Name | Buyback Type | Offer Amount | Buyback Price | CMP | Record Date | Buyback Open Date | Buyback End Date |
---|---|---|---|---|---|---|---|
Tanla Platforms Ltd | Tender Offer | Rs 170 Cr | 1200 | 815.45 (-0.97%) | 25-10-2022 | TBD | TBD | Garware Technical Fibres Ltd | Tender Offer | Rs 90 Cr | 3750 | 4-11-2022 | TBD | TBD | Orbit Exports Limited | Tender Offer | Rs 10 Cr | 245 | 140.35 (-5.14%) | 18-11-2022 | TBD | TBD | KRBL Limited | Tender Offer | ₹325.00Cr | 500 | 282.15 (-0.97%) | 25-08-2023 | TBD | TBD | Dwarikesh Sugar Industries Limited | Tender Offer | ₹31.50Cr | 105 | 73.63 (-2.54%) | 20-03-2024 | 27-03-2024 | 03-04-2024 | Garware Technical Fibres Limited | Tender Offer | ₹199.50Cr | 3800 | 3257.85 (-2.53%) | 26-03-2024 | 01-04-2024 | 05-04-2024 | Freshtrop Fruits Limited | Tender Offer | ₹33.69Cr | 175 | 163.90 (0.09%) | 02-04-2024 | TBD | TBD |
Detail Article on Benefit from buyback offer >> Read
TCS Buyback Important dates - Record Date,Buyback Start and End date. Buyback Details - Buyback Price, Buyback Offer Size, Buyback Number of Shares, Retail Investors limit. What is the record date for TCS? How can I apply in TCS Buyback offer?Last Updated on 2018-10-26T03:16:56+00:00