March 9, 2022 - March 23, 2022
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Established in 1968, Tata Consultancy Services (TCS) is an IT services, consulting, and business solutions provider. The company provides services grouped under the segments - Consulting and service integration, digital transformation services, cloud services, cognitive business operations, and products and platforms.
Key verticals the company serves are Banking, Financial Services, and Insurance (BFSI), Retail and Consumer Business, Communications, Media and Technology (CMT), Manufacturing, and Others.
TCS is a subsidiary of the Tata Group and is the largest IT services company in the world by market capitalization. TCS's geographic footprint covers North America, Latin America, the United Kingdom, Continental Europe, Asia-Pacific, India, the Middle East, and Africa. The company has over 556,986 employees around the globe and operates in 149 locations across 46 countries.
Cut-off price for Small Shareholder category (< Rs 2L holding)
A "Small Shareholder" is a Shareholder who holds Equity Shares having market value of not more than Rs 200,000 on the Record Date.
As on the Record Date, the closing price on NSE, being the Recognized Stock Exchange having the highest trading volume, was Rs 3,571.90 per Equity Share. Accordingly, all Eligible Shareholders holding not more than 56 Equity Shares as on the Record Date are classified as 'Small Shareholders' for the buyback offer.
Buyback Price Calculation and Eligibility Criteria for Retail Small Shareholders Category
Eligibility Criteria for Small Investors in TCS Buyback 2022
TCS shares closing price on 23 February, 2022 (record date) at NSE was Rs 3,563.80. Thus the number of Shares as on Record Date to qualify as Small Shareholder is 56 shares.
| NSE | BSE | |
|---|---|---|
Trading Volume (Shares) on 23rd Feb 2022 | 24,26,203 | 2,09,000 |
Closing Price | 3,563.80 | 3,565.30 |
Number of Shares to qualify as Small Shareholder in TCS 2022 Buyback = Rs 3,563.80 * 56 = Rs 199572.80 (which is less than Rs 2,00,000)
TCS Buyback 2022 Buyback Entitlement
As per the email received from registrar on March 5th, 2022, the buyback entitlement is:
- Retail Investors: 14% (Less than Rs 2,00,000)
- Others: 0.92%
Acceptance Ratio for TCS Buyback
TCS accepted 26% shares in its buyback for retail category. People who applied for 50 shares got accepted 13 shares. HNI acceptance ratio is 2.45%.
Buyback History
| Buyback Date | Share % of paid-up capital bought back | Share Buyback price | Total Buyback Amount | Acceptance Ratio (Retail) |
|---|---|---|---|---|
| May 18, 2017 | 2.85% | Rs 2,850.00 | Rs 16,000.00 Cr | NA |
| Sep 06, 2018 | 1.99% | Rs 2,100.00 | Rs 16,000.00 Cr | NA |
| Dec 18, 2020 | 1.42% | Rs 3,000.00 | Rs 16,000.00 Cr | NA |
| Mar 09, 2022 | 1.08% | Rs 4,500.00 | Rs 18,000.00 Cr | 24.00% |
| Dec 01, 2023 | 1.12% | Rs 4,150.00 | Rs 17,000.00 Cr | 35.00% |
TCS Buyback Detail
| Issue Period | March 9, 2022 - March 23, 2022 |
| Security Name | Tata Consultancy Services |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 40,000,000 |
| Issue Size (Amount) | ₹18,000.00 Crores |
| Buyback Price | ₹4500 per share |
| Face Value | ₹1 per share |
| Listing At | BSE, NSE |
TCS Buyback Issue Timetable
| Record Date | February 23, 2022 |
| Offer Opens On | March 9, 2022 |
| Last Date for receipt of Tender Forms | March 23, 2022 |
| Offer Closes On * | March 23, 2022 |
| Finalisation of Buyback Acceptance | March 31, 2022 |
| Last Date for settlment of bids | April 1, 2022 |
| Last Date for Extinguishment of Shares | April 8, 2022 |
Buyback Ratio
Company Financials
| Particulars | For the year/period ended (Rs. in Millions) | |||
|---|---|---|---|---|
| 31-Dec-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Income | 1,233,870.00 | 1,413,630.00 | 1,393,830.00 | 1,307,970.00 |
| Profit After Tax | 283,920.00 | 309,600.00 | 332,600.00 | 300,650.00 |
| Net Worth | 923,929.10 | 747,939.10 | 743,682.40 | 788,982.40 |
Stock price at BSE (in preceding 3 months)
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Feb-2022 | 3,857.00 | 3,695.60 | 3,782.93 |
| Jan-2022 | 4,019.10 | 3,650.10 | 3,847.53 |
| Dec-2021 | 3,736.85 | 3,534.35 | 3,630.88 |
Stock price at NSE (in preceding 3 months)
| Month | High Price | Low Price | Average Price |
|---|---|---|---|
| Feb-2022 | 3,856.20 | 3,694.95 | 3,782.74 |
| Jan-2022 | 4,019.15 | 3,649.25 | 3,847.37 |
| Dec-2021 | 3,738.35 | 3,536.40 | 3,631.14 |
Necessity of the Issue
The Buyback aims to :
i) Return excess cash to the shareholders.
ii) Increase shareholder's value in the long term; and
iii) Improve Return on Equity.
TCS Buyback Documents
TCS Buyback Rating
250
4.2
Rating:
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Company Contact Information
Tata Consultancy Services
9th Floor, Nirmal Building,
Nariman Point,
Mumbai - 400 021.
Phone: +91 22 6778 9696
Email: investor.relations@tcs.com
Website: https://www.tcs.com/
TCS Buyback Registrar
Link Intime India Private Ltd
Link Intime India Private Ltd
C 101, 247 Park, L.B.S.Marg,
Vikhroli (West), Mumbai - 400083Phone: +91-22-4918 6270
Email: tcs.buyback2022@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html
TCS Buyback Manager
Lead Manager(s)
- Jm Financial Limited
Registered Broker
- JM Financial Services Limited
Email: divyesh.kapadia@jmfl.com
Find TCS Buyback Latest Update
- TCS Buyback FAQs
- TCS Buyback Live News
Frequently Asked Questions
1. What is the TCS Buyback 2022 size?
The Buyback Offer size in terms of Equity Shares to be bought back will be 4,00,00,000 Equity Shares and in terms, the amount will be approximately Rs.18,000 Crores, which represents 1.08% of the total issued and paid-up equity share capital of the Company, as of December 31, 2021.
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2. What is the TCS Buyback Price?
The Equity Shares will be bought back at a price of Rs 4,500 per Equity Share.
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3. What will be the impact of tax on TCS buyback?
The income from the accepted buyback share is tax-free. There are no short-term or long-term capital gain taxes on the profits from TCS buyback accepted shares. The buyback price of Rs 4500 is the net price you will get for shares accepted.
But the gain/loss from the sell of the remaining share in the open market (not accepted in buyback offer) will be taxable as usual.
Example:
- If you buy 1 share for 3700 and TCS accepts it in a buyback offer, the Rs 800 profit will be tax-free.
- If you buy 50 shares at 3700 and 25 shares are accepted by TCS for buyback and the remaining are sold in the open market at 4000. Profit from buyback accepted shares (Rs 800*25 = Rs 20,000) is tax-free. Profit from remaining shares (Rs 300*25 = Rs 7500 is taxable.
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4. What is the mode of TCS Buyback?
This TCS Buyback offer will be implemented through the "Tender Offer" route.
The 'Tender Offer' means an offer by a company to buy back its own shares through a letter of offer from the shareholders. The shareholders have to contact their Share Broker to submit the shares.
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5. Is it compulsory to tender TCS shares through a broker?
Yes. The Shareholders who desire to tender their Equity Shares in the electronic form or physical form under the Buyback would have to open a trading account with any BSE or NSE registered broker.
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6. Can I tender TCS shares under pledged for margin?
No, lock-in/ pledged and non-transferable shares cannot be tendered.
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7. What portion of my holding can I tender to the company as part of the buyback?
Shareholders holding Equity Shares as on the Record Date (Feb 23, 2022) would be eligible to participate in the buyback. Shareholders would either be categorized as a general category shareholder or a small shareholder based on the market value of shares held on the Record Date. The entitlement for each shareholder would then be fixed as per their holding on the Record Date. Shareholders can tender either part or entire holding as on the Record Date in the buyback. However, the acceptance would initially be the entire entitlement of the shareholder and any additional acceptance would be based on the overall additional shares tendered by all the Eligible Shareholders.
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8. How does one participate in the TCS buyback in case one does not receive the tender/offer form?
Receipt of tender/ offer form is not necessary. If you are a TCS shareholder on the Record Date, you can participate in the buyback. An Eligible Shareholder may participate in the Buyback by downloading the Tender Form from the websites of the Company and the Registrar to the Issue.
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9. What is the manner in which TCS decides the acceptances from each shareholder?
Acceptance will be decided basis the number of shares tendered in the buyback. The entire entitlement of the Eligible Shareholders would be accepted and if any additional shares are tendered by the Eligible Shareholders, the same would be accepted on a proportionate basis.
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10. When will the TCS shareholder receive an intimation about acceptance of his/her shares?
The shareholder would receive the intimation once their shares are accepted and settlement is completed post the completion of the tendering period.
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11. Why is TCS doing a share buyback at an all-time high price?
The current Buyback is in line with the Company's shareholder-friendly capital allocation practices of returning excess cash to shareholders, thereby increasing shareholder value in the longer term, and improving the Return on Equity.
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TCS Buyback FAQs
The TCS Buyback opens on March 9, 2022, and closes on March 23, 2022.
The TCS Buyback last day to buy is not available as of now.
The TCS Buyback is a Tender Offer.
TCS Buyback Schedule
| Buyback Opening Date | March 9, 2022 |
| Buyback Closing Date | March 23, 2022 |
| Last Date for receipt of Tender Forms | March 23, 2022 |
| Finalisation of Buyback Acceptance | March 31, 2022 |
| Last Date for settlment of bids | April 1, 2022 |
| Last Date for Extinguishment of Shares | April 8, 2022 |
The TCS Buyback is being offered at Rs ₹4500 per share per equity share.
The record date for the TCS Buyback is February 23, 2022.
The issue size of TCS Buyback is of 40,000,000 equity shares at ₹4500 per share aggregating upto ₹18,000.00 Crores.
The Buyback aims to :
i) Return excess cash to the shareholders.
ii) Increase shareholder's value in the long term; and
iii) Improve Return on Equity.
All the eligible Shareholders of the Company holding either Physical Shares or Demat Shares as on the Record Date can participate in the buyback offer through their Stock Broker.
The eligible shareholder holding the shares in Demat form needs to inform their broker the details of the Equity shares they wish to tender in the Buyback Offer. The shareholder needs to transfer the tendered shares to a Special account of the clearing corporation. The broker, in turn, would place an order on the stock exchange for the buyback.
The eligible shareholder holding the shares in physical form needs to approach their broker with original share certificates and supporting documents. Upon completion of document verification, the broker places an order on the stock exchange and submits the original share certificate and TRS to the registrar.
The tender form and TRS are optional in the case of Demat shares but mandatory in the case of physical shares.
The TCS Buyback offers an opportunity for the shareholders to exit their positions at a premium price. In case you stay invested you would have an increased percentage of shareholding in the company and improved earnings per share. Thus, one should understand the company fundamentals along with one's need, goals, and risk appetite to decide if one wants to stay invested or participate in the buyback offer.
422 Comments
422.Suresh Talreja Link|April 20, 2022 2:11:41 PM
I have not received my tcs share buyback amount in my ledger till today it is for 1 share.
I am suresh Talreja my broker is Angel broking
421.Laxmikanta Link|April 3, 2022 3:50:59 PM
I have not yet received my credit .
Fund not credited to my account for 9 share till date 03/4/22.
Where to complain???
Load more comments (2 replies)
421.3.Pramod SK Link|April 6, 2022 9:37:50 AM
After so many days, today TCS buyback amount is reflecting in broker's ledger account for me.
You all also can check your Demat ledger account. If NPCI is not able to push the money somehow into investor bank account then they push into broker's ledger sometimes. My case is solved.
421.4.Niraj Link|April 7, 2022 10:24:23 PM
I have still not received money. I have account I axis direct and at this time I have not received money in the account. When I contacted axis direct, they are saying they don't have anything to do in this matter.
420.Amit Agrawal 1| Link|April 5, 2022 1:50:28 PM
Sir from where can i know the BOA of tcs buyback 2022.
419.Rahul agrawal Link|April 4, 2022 11:42:57 AM
Hi, I have observed that the buyback amount was credited by TCS for 10 shares. however, the funds were reversed again March 31, 2022. Any reason for the same? Further, 10 shares were not added to the demat account post reversal.
418.Ou Ai Link|March 27, 2022 5:50:28 PM
TCS buy back reveals an interesting conundrum. This board , other financial newspapers, media, brokers, digital media advocated all about good acceptance at big price difference highlighting 15% reservation portion to small shareholders. This attracted lakhs in buying small quantities in multiple accounts. The word is so well spread that even retail shareholders holding above 56 shares began to shed their extra quantities to be in this category. This was also due to 100% AR in past buy back where they felt missed out.
Buyback is mainly an opportunity provided to shareholders to distribute surplus cash more efficiently in lieu of dividends now tax inefficient. In TCS particularly , due to excessive information disseminated several long term retail shareholders sold excess shares at higher prices before record dates to be below 2 lakh holdings and then bought back post record date at much lower prices. So naturally numbers wanting to shares preferential 15% small investors added up reducing the AR. These are real earners both from markets and higher AR. They are real winners from both ends as they don't need to wait for their balance share price to rise immediately with their original holding at historical prices.
This now may repeat in all good company buy backs specially A class shares. So, one needs to be watchful before deciding to participate, if investment is only for purpose of leveraging from buy back. Buy back process in itself takes about 8 to 10 weeks...
418.1.KAMMA SIVA RAMA KRISHNA 1| Link|March 27, 2022 8:05:56 PM
Ou Ai ji,
Very very nice analytical views. I wholeheartedly appreciate your efforts to place the elaborated study. Good. Please keep posting such helpful messages. Thank you.
418.2.Pbdrajkot Link|April 4, 2022 1:34:01 AM
Clearly elaborate logic and thinking of retail share holders to tender share in small share holder category. Nice work. keep it up thanks
417.Saurabh Link|April 3, 2022 5:18:51 PM
I have not received 9 accepted shares of tcs what should I do
416.kunal Link|March 31, 2022 11:35:40 PM
I have not recieved the funds yet for the shares
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416.2.Shivusunagar Link|April 1, 2022 9:58:56 AM
I am also not received amount, what we have to do?
416.3.Pramod SK Link|April 3, 2022 3:41:34 PM
I have not received Tcs BUYBACK AMOUNT FOR 11 accepted shares. Any idea why so ??
415.Ankur Link|March 30, 2022 11:40:51 PM
Can a broker charge STT in Contract note for shares Buyback? Hv ur broker charged STT for TCS buyback?
415.1.Mr Somnath Boral Link|April 2, 2022 4:05:28 PM
My Broker has charged STT & other taxes plus brokerage also. Although, I've not received the sale proceeds or fund from TCS for the share sold that TCS accepted from my Demat A/C.
414.Mr Somnath Boral Link|April 2, 2022 3:02:00 PM
It's very unfortunate that TCS hasn't made the payment for the share that they have taken from DEMAT account even after expiry of 11-days from date of transfer of share from my Demat to TCS a/c. Place:- Kolkata// PEERLESS SECURITIES.
413.khushi b s Link|March 31, 2022 9:45:44 PM
if my broker forgott to place tcs buyback slip, where can i complain?
412.KAMMA SIVA RAMA KRISHNA 1| Link|March 26, 2022 1:21:53 PM
3/123 n 13/50. Not encouraging AR in all the categories. Let us be more watchful in the forthcoming Buybacks. Thank you.
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412.5.Harit 1| Link|March 31, 2022 6:35:12 PM
AR in GAIL will be around 30% as of now according to my source
@ksrk ji
What's your calculations?
As far as TCS
It's near to my break even of 3765 but I will hold remaining 136/176(4 acc.) For some time
By the dec.22 or before it will touch 4250 which is my target
What's your plan sir?
412.6.techuser Link|March 31, 2022 7:52:22 PM
Thanks @Harit ji, for your views.
411.Ajay Chauhan Link|March 30, 2022 1:43:46 PM
I tendered 45 shares from two A/c but only 1 share was accepted. What can I do now? Whom to complain about this issue?
411.1.N Link|March 31, 2022 12:51:38 PM
Can you tell how many shares
you have on record date in indidual account
411.2.Ajay Chauhan Link|March 31, 2022 12:58:30 PM
I had 45 shares in each account, I bought these shares on 21st Feb. In email also they acknowledge that I had 45 shares.
410.Vijay Link|March 30, 2022 6:55:42 PM
I have received money against accepted TCS shares but unaccepted shares have not been credited to my demat account with axis direct/CDSL.
409.Abdullah Al Amin Link|March 30, 2022 12:49:52 AM
Share debited from Demat Account (Upstox) but still didn't received amount in Bank Account. What should I do now ?
408.Shivusunagar Link|March 29, 2022 8:41:18 PM
Amount still not credited what should I do?
407.Nagros Link|March 29, 2022 7:28:00 PM
Debited 4/20 and amount credited into bank account.
406.Have Faith 🙏 Link|March 28, 2022 8:12:24 PM
Money credited in one account for buyback
Load more comments (4 replies)
406.5.VIBHOR SAXENA 1| Link|March 28, 2022 11:29:10 PM
Got Credit of one account of zerodha
406.6.antarix Link|March 29, 2022 7:16:33 PM
Some broker/bank take more time in this process. I have not received money (zerodha/PNB). In case of MOIL buyback, money was credited in my trading account with zerodha rather than bank account.
405.IPOVini Link|March 29, 2022 1:16:31 PM
I see that buyback profit is included as part of short term realized profit in Tax P&L statement from Zerodha. But what I heard earlier is that these buyback profit is tax exempted.
Could anyone throw some light here?
405.1.antarix 1| Link|March 29, 2022 7:15:34 PM
What zerodha is showing is not correct. Profit from buyback is taxable in the hands of company and not shareholder.
While filing ITR last year, I deducted profit relating to buyback from overall profit shown by zerodha and then calculated my short term profit.
404.sriram Link|March 29, 2022 3:00:29 PM
i didnnot receive the amount in nro through hdfsec/hdfc bank , can someone please guide me when the same can be expected or what further process i need to takeup
404.1.antarix Link|March 29, 2022 7:12:32 PM
Some broker/bank take more time in this process. Even I have not received money (zerodha/PNB). In case of MOIL buyback, money was credited in my trading account with zerodha rather than bank account.
403.sdz Link|March 29, 2022 12:48:45 PM
Sold 37@3710. Another 37 are still waiting in another account
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