TCS – India’s largest IT company – has finally announced the record date for its Rs 17,000 crore buyback. The record date is set at November 25, which is a Saturday. This means that an investor needs to have shares in his account on Friday to be eligible for buyback. Thus, the last day to buy TCS shares to be eligible for buyback would be November 23 – Thursday.
If retail participation continues to remain high, then though the buyback price is at a premium of 22% to the current market price, the actual gain for a retail shareholder would be limited to 5.5%, assuming a 25% retail acceptance ratio.
#tcsbuyback #tcs #tcsbuybackdate
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