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
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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