It included a schedule of activities related to the buyback, which showed date of opening of the buyback offer as December 18, 2020 and closing as January 1, 2021.
The last date of settlement of bids on the stock exchanges is January 12, 2021.
TCS' smaller rival Wipro has also announced a buyback plan for up to Rs 9,500-crore at Rs 400 per equity share.
TCS CEO and Managing Director Rajesh Gopinathan had earlier said the company is focused on its policy to return capital to shareholders.
The Mumbai-based company's cash reserves stood at Rs 58,500 crore as of September 2020.
Last year, TCS had offered a special dividend and this time it is undertaking a buyback, he had noted.
In October last year, TCS' board had declared a special dividend of Rs 40 per equity share. In 2018, TCS had undertaken a share buyback of about Rs 16,000 crore, while it had conducted a similar share purchase exercise in 2017 also.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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