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20
February 2017
Software
major Tata Consultancy Services (TCS) said on Monday it will buy back up to
5.61 crore equity shares for Rs 16,000 crore. The Total Investment & Insurance Solutions
According
to TCS, the equity share buy back decision was taken by its Board of Directors
at a meeting held on February 20. The
Total Investment & Insurance Solutions
"The
'Buyback Size' being 2.85 per cent of the total paid up equity share capital,
at Rs 2,850 per equity share," the company informed the BSE in a
regulatory filing.
"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 in accordance with the provisions contained in the SEBI Regulations,
1998 and the Companies Act, 2013 and rules made thereunder," the filing
elaborated. The Total Investment
& Insurance Solutions
The
pre-buyback shareholding pattern as on February 17, 2017 showed that the Tata
Group owned 73.31 per cent in the software major. The Total Investment & Insurance Solutions
The
company's scrip price on the BSE gained 4.06 per cent or Rs 97.85 per share to
Rs 2,506 per equity share from its previous close of Rs 2,408.15.The Total Investment & Insurance Solutions
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