Tata Consultancy Services to take its fourth share buyback offer on January 12 – Times of India – India Times English News

Mumbai: Tata Consultancy Services ,TCSIndia’s second largest listed company on Friday said it plans to buy back its stock. Its board, headed by the President N ChandrasekharniA meeting will be held on January 12 to consider the share buyback proposal. If approved, it would be the fourth such capital action by India’s largest software services company in five years since it was listed in 2004. It had paid Rs 48,000 crore through three share buybacks. The company previously said it plans to return at least 80% of its free reserves to shareholders.
stock buyback will do Tata Sons The biggest beneficiary of profits as it is the largest shareholder of the IT major. Tata Sons holds 72 per cent stake in the IT giant. TCS closed 1.3% higher at Rs 3,855 till the end of Friday’s trade BSE ,

The development comes at a time when Tata Sons is completing the formalities for the acquisition of Air India. long-stop date of completion Air India The deal with the government is on January 23. Tata Sons had offered Rs 18,000 crore for Air India – it would take over the national carrier’s Rs 15,300 crore debt and pay Rs 2,700 crore in cash to the government.
According to TCS’s previous share repurchase expense (see graphic), if it repurchases Rs 16,000 crore of its stock this time too, Tata Sons will get Rs 11,000 crore from participating in the program. will pay Chandrasekaran, also chairman of Tata Sons, to strengthen the balance sheet and additional resources to make growth investments. He also said last month that Tata Sons’ growth strategy would be to play on the fourth theme – digital, new energy, supply chain and health. He described the winning bid for Air India as the “most important” milestone for the company. Tata Group,