TCS announces a Rs 17,000 crore buyback

The buyback will be conducted through the tender offer route Tata Consultancy Services , India's largest IT services company, has come out with a buyback offer for its shareholders. The plan is to purchase nearly 4.09 crore shares for a total consideration amount of Rs 17,000 crore. The price at which buyback will be made - Rs 4,150 per share, is at a 15 per cent premium as compared to the market closing as of Oct 11, 2023. The company will conduct the buyback through a tender offer route, wherein existing shareholders may opt to retain or sell the shares of the company. The company's fifth buyback in the last six years This is not the first time that TCS has re