TCS share buyback opens today: All you need to know

Here's everything you need to know about the TCS share buyback offer:

The promoters will also participate in the buyback.

All shareholders who owned shares in the corporation as of February 23 might sell them in a predetermined ratio. TCS has established two categories for the buyback: a category for small shareholders and a general category.

Small shareholders are defined as stockholders who possessed less than 56 shares on the record date, according to the share buyback offer letter. According to TCS, there are 21,10,826 small shareholders with a total shareholding of 4,10,51,350 units.

Other shareholders in the general category had 3,65,80,00,023 shares as of the record date, according to the company.

The shareholding of small shareholders and others in the general category is more than what the company plans to buy. So, they will be able to offer only a part of their holding in the buyback.

Also Read: TCS trades about 3.5% higher after buyback announcement

TCS announced that it will buy back 3,40,00,000 shares from the general category and 60,00,000 shares from the reserved category. This offer is open to all types of shareholders.

Sharing details of the buyback entitlement, TCS said that in the reserved category for small shareholders, the ratio of buyback will be "one equity share for every seven equity shares held on the record date".