TCS says founders will participate in Rs16,000 crore share buyback

Tata Consultancy Services (TCS), owned by Tata Sons, is planning a Rs16,000 crore share buyback


Tata Sons owned 73.26% of TCS as of the end of December, according to stock exchange data. Photo: HT
Tata Sons owned 73.26% of TCS as of the end of December, according to stock exchange data. Photo: HT

Mumbai: Tata Consultancy Services Ltd (TCS), which is planning a Rs16,000 crore share buyback, said on Wednesday that founder group of the company intended to participate in the proposed buyback.

TCS, is part of the salt-to-software Tata conglomerate, whose holding company is Tata Sons Ltd.

Tata Sons owned 73.26% of TCS as of the end of December, according to stock exchange data. TCS last month approved share buyback of up to 56.1 million shares at Rs2,850 apiece. Reuters

More From Livemint