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TCS to buy back 4-Cr shares for Rs.18,000-Cr

The Hindu  

The board of directors of Tata Consultancy Services Ltd (TCS) has approved a proposal to buy back four crore equity shares for INR 18,000 crore, being 1.08% of the total paid-up equity share capital, at INR 4,500 each. The buyback is proposed to be made on a proportionate basis under the tender offer route. The buyback does not include transaction costs, applicable taxes and other related expenses. As on January 7, promoter companies held 72.19% stake in the company.