TCS shareholders approve Rs 16,000 cr share buyback

New Delhi: India's largest software services firm TCS today said its shareholders have approved a Rs 16,000 crore share buyback plan.

Reuters

Reuters

The buyback programme, which was passed through a special resolution, saw 99.81 percent of the total number of valid votes being cast in favour of the proposal, the company said in a regulatory filing.

The proposed shares under the buyback represent 2.85 percent of the total paid up equity share capital at Rs 2,850 per equity share.

In February, the board of TCS had approved the proposal to buy back up to 5.61 crore equity shares for an aggregate amount not exceeding Rs 16,000 crore.

The buyback is proposed to be made from the shareholders of the company on a proportionate basis under the tender offer route using the stock exchange mechanism, TCS had said earlier.


Updated Date: Apr 17, 2017 17:56 PM

Also Watch

Social Media Star: Abhishek Bachchan, Varun Grover reveal how they handle selfies, trolls and broccoli
  • Monday, July 16, 2018 It's a Wrap: Soorma star Diljit Dosanjh and Hockey legend Sandeep Singh in conversation with Parul Sharma
  • Monday, July 16, 2018 Watch: Dalit man in Uttar Pradesh defies decades of prejudice by taking out baraat in Thakur-dominated Nizampur village
  • Monday, July 16, 2018 India's water crisis: After govt apathy, Odisha farmer carves out 3-km canal from hills to tackle scarcity in village
  • Sunday, July 15, 2018 Maurizio Sarri, named as new Chelsea manager, is owner Roman Abramovich's latest gamble in quest for 'perfect football'

Also See