There is good news for investors of the largest IT company TCS. Tata Group’s software service provider company is going to make money for its investors soon. This time, retail investors of the company are going to get huge benefits especially.
The offer is opening from Friday
The company announced the buyback of shares a day earlier. . This time the company is going to start share buyback on 1st December i.e. the last day of this week. Under this offer the company will repurchase shares worth Rs 17 thousand crore. The offer will close on 7th December. That is, TCS will repurchase the shares in this buyback offer from December 1 to December 7.
Repurchase will be done at this price
According to the information given by TCS, in this offer Rs. There is a plan to buy back crore paid-up equity shares. The company will do this repurchase at the rate of Rs 4,150 per share. This means that the shareholders of the company are going to get a huge premium in the buyback, because the rate of repurchase is much higher than the current market price.
The premium is getting so high
Wednesday After the end of trading, the price of TCS shares stood at Rs 3,514.60. A day before this, on Tuesday, the price was near Rs 3,470. This means that after the announcement of buyback, TCS shares have increased by 1.28 percent. If we look at Tuesday’s price, the company has announced repurchase at a premium of about 20 percent.
This is the record date for buyback
TCS has set a record for this buyback. The date has been fixed as 25 November 2023. This means that investors whose names would have appeared in the company’s shareholders’ book by November 25 can avail the benefit of this buyback. Compared with the record date, the premium on repurchase rate is 17 percent. This is the fifth share buyback of TCS.
Disclaimer: The information provided here is being given for information only. It is important to mention here that investing in the market is subject to market risks. As an investor, always consult an expert before investing money. ABPLive.com never advises anyone to invest money here.
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