Announcements

The TCS (Tata Consultancy Services) buy-back offer of Rs. 3000 per share opens on 18th December 2020 and closes on 1st January 2021.

Read on to know how you can apply for it quickly and easily -

What is a buy-back and why should you opt for it?
It’s a corporate action where a company offers to buy-back its shares from the existing shareholders usually at a higher price than the market price. To learn more about a buy-back, click here.

What does this offer mean for TCS shareholders?
Existing TCS shareholders holding TCS shares as of 28th November 2020 (which is the Record date) can offer to sell their shares back to TCS for Rs. 3000 per share by applying to their buy-back offer on or before 1st January 2021.

How to apply for a buy-back?
Just follow these steps:

1. Login into keystone.upstox.com with your client code and back-office password
2. Click on “Account” on the top of the header line
3. Click on “Buy Back/ Turnover” from the drop-down
4. Click on “Apply” and enter the quantity
5. Submit the request

Note: Non-POA holders will need to enter a valid pin to authenticate the buy-back via EDIS to proceed.

When can you apply?
Apply for this buy-back before 1st January 2021.

What to keep in mind while applying?

1. You can only apply for this buy-back if you hold shares of TCS in your Demat account as of 28th November 2020.
2. You shouldn’t sell these shares on or before 1st January 2021 if you’re interested to take part in the buy-back offer.
3. After applying and offering your shares up for a buy-back, you cannot sell them in the market and modify or cancel your original bid.
4. You can only sell these shares in the market If the company cancels the buy-back and you receive your shares back from the company.
5. You will receive the buy-back amount for the shares from TCS/ Registrar & Transfer Agent (RTA) directly into your bank account (this will be updated in the records of the depository as well).
6. A total of 5,33,33,333 shares will be accepted by TCS for the buyback and the remaining shares not accepted by TCS will be returned back to shareholders in their Demat account. On 12.01.2021 TCS will credit the payment for the accepted shares and the unaccepted shares will be returned to the user's demat accounts. The percentage of shares accepted will be decided based on the number of retail investors who have applied for the buyback.

That’s all about the TCS buy-back, stay tuned for more buy-back updates from Upstox!