The TCS (Tata Consultancy Services) buyback offer at ₹4500 per share opens on 9th March 2022 and closes on 23rd March 2022. What is a...
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The TCS (Tata Consultancy Services) buyback offer at ₹4500 per share opens on 9th March 2022 and closes on 23rd March 2022.
What is a buyback and why should you opt for it?
It’s a corporate action where a company offers to buyback its shares from the existing shareholders usually at a higher price than the market price. To learn more about a buyback, click here.
What does this mean for TCS shareholders?
Existing TCS shareholders holding TCS shares as of 23rd February 2022 (which is the record date) can offer to sell their shares back to TCS for ₹4500 per share by applying to their buy-back offer on or before 23rd March 2022.
How to apply for a buyback?
- Login to the Upstox app using your 6-digit PIN or biometrics
- Click on the name icon on your top left corner
- Click ‘Account’, then ‘Corporate actions’ and then Buyback / Delisting/ Takeover
- Select the required stock for buyback
- Enter the quantity and click on apply
- If you have submitted your POA, then the buyback will be confirmed
OR
If you are applying via a CDSL TPIN, click on ‘Continue to CDSL TPIN’ . If you do not have a TPIN, scroll down and select ‘Generate TPIN on CDSL’. Enter the TPIN and approve the transaction. Your buyback order will be confirmed and you can check the order status under the ‘Orders placed’ tab
If you’re using an old Upstox app, click here How to apply for Buy-backs/Takeover/Delisting?
When can you apply?
Apply for this buyback before 23rd March 2022.
What to keep in mind while applying?
- You can only apply for this buyback if you hold shares of TCS in your Demat account as on 23rd February 2022.
- You shouldn’t sell these shares on or before 23rd March 2022. if you’re interested to take part in the buyback offer.
- After applying and offering your shares up for a buyback, you cannot sell them in the market and modify or cancel your original bid.
- You can only sell these shares in the market If the company cancels the buyback and you receive your shares back from the company.
- You will receive the buyback 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).
- A total of 4,00,00,000 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 1st April 2022, 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 buyback, stay tuned for more buyback updates from Upstox!
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