TCS Buyback 2023 Record Date, Buyback Price, Entitlement Ratio

TCS Buyback 2023

TCS Buyback 2023 description – TCS is an IT services, consulting, and business solutions organization partnering with many of the world’s largest businesses in their transformational journeys for the last 55 years. It has a global presence, deep domain expertise in multiple industry verticals, and a complete portfolio of offerings – grouped under consulting and service integration, application services, digital transformation services, cloud services, engineering services, cognitive business operations, and products and platforms – targeting every C-suite stakeholder.

TCS’s geographic footprint covers North America, Latin America, the United Kingdom, Continental Europe, Asia Pacific, India, and Middle-East Africa.

In 2015, It was ranked 64th overall in the Forbes World’s Most Innovative Companies. TCS is one of the largest private-sector employers in India, and the fourth-largest employer among listed Indian companies. It has crossed more than 400,000 employees as of 31 March 2023.

Tata Consultancy Services Buyback

TCS Share Buyback 2023 Details

TCS Buyback Dates1 – 7 Dec 2023
TCS Buyback Price INR 4,150 per share
Market Price on Buyback ApprovalINR 3610.20 per share
Buyback Premium on Market Price14.95%
Buyback Offer Size (Shares)40,963,855 shares
Buyback Offer Size (Amount)INR 17,000 crore
Offer TypeTender
Promoter ParticipationYes
Face Value INR 1 per share
Listing AtBSE, NSE

TCS Buyback Dates (Timeline)

Board Meeting Intimation for Buyback Proposal6 October 2023
Buyback Approval Date11 October 2023
Public Announcement of Buyback17 November 2023
TCS Buyback Record Date25 November 2023
Buyback Opening Date1 December 2023
Buyback Closing Date7 December 2023
Cut-off Date to receive tender forms by Registrar7 December 2023
Verification Date by the Registrar11 December 2023
Return of unaccepted shares by Registrar14 December 2023
Extinguishment of accepted shares26 December 2023

TCS Buyback 2023 Documents

Letter of Offer
Public Announcement
Board Approval
Upcoming Share Buyback

TCS Buyback Entitlement Ratio

Shareholder CategoryEntitlement RatioEntitlement Ratio (in %)
Small Shareholders
(less than INR 2 Lakh on record date)
General category
(for all other Eligible Shareholders)

A small shareholder is defined as a shareholder who holds shares worth less than INR 2,00,000 as of the record date.

TCS Financial Performance

FY 2021FY 2022FY 2023
Total Expenses1,22,3331,44,0851,72,000
Net income 32,56238,44942,303
Figures in INR Crores unless specified otherwise

Calculation of Investment in Buyback

Maximum market value of a share holder as on record dateINR 2,00,000
Buyback price per share INR 4,150
Maximum shares for small shareholders (2,00,000/4,150)INR 49 shares *
Maximum market value of a shareholder as on record dateINR 3,610.20**
Maximum amount invested in buyback (INR 3,610.20 x 49 shares)INR 176,899.8
* No. of shares stands to change according to the closing price on the record date
** For simplicity, we have considered the
price on the buyback approval date

TCS Buyback Acceptance Ratio

Shares Tendered Buyback EntitlementAcceptance ratioBuyback ProfitProfit in %
4999 (100%)4,858.22.75
49918 (200%)9,716.45.49
49927 (300%)14,574.68.24

Registrar of TCS Buyback 2023

C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Telephone: +91 810 811 4949
Email: [email protected]

Manager of TCS Buyback 2023

7th Floor, Cnergy, Appasaheb Marathe Marg,
Prabhadevi Mumbai – 400 025
Phone: +91 22 6630 3030
Email[email protected]

Process to Participate in TCS Buyback

All eligible shareholders of the company who own shares in the physical or demat form on the record date may participate in the buyback offer through their stockbroker. The eligible shareholders who hold the shares in demat form must notify their brokers of the details of the equity shares that they wish to tender in the buyback offer.

The shareholder must transfer the tendered shares to the clearing corporation’s Special account. In turn, the broker would place a buyback order on the stock exchange.

The eligible shareholders who own the shares in physical form must present their broker with the original share certificates and supporting documents. After complete document verification, the broker places an order on the stock exchange and submits the original share certificate and TRS (Transaction Registration Slip) to the registrar.

Frequently Asked Questions

What are TCS buyback dates?

TCS share buyback opens on 1 December 2023 and closes on 7 December 2023.

Which type of buyback is TCS’s buyback offer?

TCS buyback is a tender offer.

What is the TCS buyback price?

TCS buyback price is INR 4,150 per share.

What is the TCS buyback record date?

TCS buyback record date is 25 November 2023.

How to participate in TCS share buyback?

TCS share buyback will be conducted through the tender process and investors who hold the shares on record date can place orders through their broker.


  1. Probabilities of AR for TCS Buy back 2023

    (1) If same % of retail investors, who did not participated in March 2022, prefer to remain non-particpant this time (2023) also, then expected AR would be above 35.35

    (2) Individual Category shares tendered in March 2022: 6,22,21,854 ( 2,53,42,996 shares were considered as Retail shares)
    Dec 2023: Shares tendered : 4,13,33,119 (Retail shares will be known only after official release from TCS post buy back)

    Thus participation in individual category is reduced by 2,08,88,735 shares in Dec 23 as compared to March 22.

    Based on this difference in Individual Category and subsequently Retail participation, I expect Minimum AR to be 41.28

    (3)In 2023, number of bidders decreased by 1,29,429 & among them 1,17,951 bidders might be from retail share category and remaining from general category.
    No separate calculation is done based on number of bidders.


    Minimum AR to be between 35.35 to 41.28

    If we take other factors into account, then AR of 60 also is possible.


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