TCS to buy back 2.85% shares worth Rs16,000 crore3 min read . Updated: 21 Feb 2017, 12:33 AM IST
The size of Tata Consultancy Services's (TCS) share buyback, India's largest, seems impressive but barely makes up for low payouts in the past
Mumbai: Tata Consultancy Services Ltd (TCS) said on Monday that it would buy back shares worth Rs16,000 crore at a fixed price of Rs2,850 each. This is an 18.3% premium over TCS’s share price ahead of the announcement. The company plans to buy back 56.1 million shares, or 2.85% of its equity capital.
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