The Board of Directors of Tata Consultancy Services Ltd has approved a proposal to buyback up to four crore Equity Shares of the Company for an aggregate amount of ₹18,000 crores, at ₹4,500 per Equity Share.
The CMP (current market price) of TCS is INR 3640 and the buyback price is INR 4500/-. It means a nearly 25% premium at CMP.
Process and Pre-conditions for participation by Dhan Clients in Buy Back :
- The client should be registered for the easiest facility
- Pool demat account of Moneylicious Securities (1208340000016328) should be mapped as “Trusted Account” in the easiest login.
- The client should have freeholding in his demat account (Pledged shares cannot be given for buyback)
- The client should not sell the securities when he intends to offer it for buyback.
- The client should first do early pay-in on his own using CDSL’s easiest facility.
- After early pay-in, the request should be sent over email to the customer service team.
- Cut-off time for Bidding during Buyback period shall be up to 02:00 PM. On the last day requests should be received by 1:00 PM
Here are the easy steps you can follow to apply for TCS buyback
Step 1 : Go to the easiest app/web
Step 2: Click on transaction, the drop-down will offer you an option of setup. Click setup
Step 3: Click on ‘early payin’. And then Click on bulk buy
Step 4: Click on the “early payin” tab
Step 5: Fill in settlement details. Below are the required details:
1. Exchange Name:NSE ( Select from drop-down list )
2. Market Type: Tender Offer
3. Settlement ID : (Select using Search icon)
4. CM ID : M52027 (Select from drop down list)
Step 6: Click on “+” for ISIN Details. This will be in the bottom right corner.
Click on account ISINs , Select TCS. And for quantities, it would be the number of shares you would like to apply for the buyback.
Step 7: Add ISIN and Quantity details and click submit. Click on verify.
Here, you need to enter your CDSL PIN to Verify the transaction. CDSL PIN is the one that you get while getting registered with CDSL. And now, you’re all set for the buyback.
If you find any difficulty do let us know.