You will be eligible for buyback only if the shares are in your holdings as of November 25, 2023. This means you should have bought the stock on November 23, 2023 or earlier. Your TCS holdings will be reduced by the number of shares tendered for the buyback until December 12, 2023, and will not be visible on Kite and Console. You will see NO BIDS in the Bid qty column on Console. Do not place new orders if you have successfully placed buyback orders. A notification is sent to the registered e-mail address once your buyback orders are placed successfully.
You can place orders till the offer closure date, i.e. 07-12-2023 till 1:30 PM. You can tender shares by visiting console.zerodha.com/portfolio/corporate-action-order-window.
To apply for the buyback, follow the steps below:
- Visit console.zerodha.com.
- Tap on the context menu and then Portfolio.
- Tap on Corporate actions.
- Under the Buybacks tab, tap on TCS and then Place order.
- Enter the quantity and tap on Submit.
If you have not submitted DDPI or a POA, you will need to authorise your holdings by entering CDSL T-PIN. To learn more, visit What is the CDSL TPIN and how to use it to sell the stock holdings?
If you have already placed an order, order received status will be displayed on the order window.
To know about buybacks in detail, see How to apply for buybacks, takeovers and delistings at Zerodha?
What are the charges for placing buyback orders?
The charges are ₹20+GST per order and are non-refundable irrespective of whether the order is accepted, rejected or failed. If multiple orders are placed, charges will be levied accordingly. Statutory charges are also applicable. To know more, see What are the various statutory charges like stamp duty and taxes etc.?
Can I tender more shares than I’m entitled to?
Yes, you can tender more shares than you are entitled to. However, if you tender more shares than your entitlement, then whether these additional shares will be accepted for buyback or not will solely depend on the acceptance ratio decided by the company. The shares that are not accepted will be credited back to your demat account by the RTA.
What are the categories in which I can tender shares in buyback?
There are two categories, Retail and General, through which one can tender shares in the buyback. The value of shares held in the demat account by November 25, 2023 end-of-the-day will determine the category through which one will be eligible to apply.
All shareholders holding shares worth ₹2 lakhs or less will be considered under the Retail category. In contrast, those holding shares worth more than ₹2 lakhs will be considered under the General category.
Will I be eligible for the buyback if I’ve pledged shares of TCS?
Yes, even if the shares are pledged, you are eligible for all corporate action benefits. However, you will have to unpledge the shares before tendering them in the buyback. See How to unpledge instruments?
Do I need to submit POA or DDPI to tender shares in buyback?
POA or DDPI is not needed to tender shares in the buyback. You can apply for buyback by authorizing CDSL TPIN and OTP. See What is the CDSL TPIN and how do I use it to sell my stock holdings?
To get updates on the buyback, visit tradingqna.com/t/everything-you-need-to-know-about-the-tcs-buyback
FAQs
Step 1: You can search for the TCS buyback in the search option on the Groww website. Alternatively, an option to apply is also available in our Help and Support section. Step 2: After you land on the TCS buyback screen, enter the number of shares you are eligible for and click on sell.
What is the acceptance ratio in buyback? ›
It is expressed in percentage, for instance, if a company repurchase 25% stake from buyback and the total percentage stake held by external shareholders is 50%, the buyback acceptance ratio will be 0.5 or 50%. It means the company will accept one share for every two shares held by shareholders.
How do I participate in a buyback offer? ›
In summary, the answer to how to apply for buyback of shares is to apply via the tender form provided by one's company and consider parameters like the record date, and the price at which the share will be fixed for its buyback.
What is the acceptance rate for TCS buyback? ›
Profit from the buyback on the bases of acceptance Ratio:
| Acceptance Ratio | 33% | 100% |
|---|
| Amount Invested in Buyback | 173424 | 173424 |
| No. of Shares Buyback | 16 | 48 |
| Buyback Profit | 8,592 | 25,776 |
| Profit% | 4.95% | 14.86% |
You will be eligible for buyback only if the shares are in your holdings as of November 25, 2023. This means you should have bought the stock on November 23, 2023 or earlier.
How do I check my TCS buyback status? ›
Tata Consultancy Services Buyback 2023 Registrar
- Phone: +91-22-4918 6270.
- Email: tcs.buyback2023@linkintime.co.in.
- Website: https://linkintime.co.in/initial_offer/public-issues.html.
Buyback Yield → Divide the total value of the share buybacks by the market capitalization at the beginning of the period. Conversion to Percentage → Multiply the resulting figure by 100 to convert the buyback yield into a percentage.
What is the essential conditions for buyback? ›
Declaration of solvency- Before making the buy-back, the company is required to file with the registrar and SEBI a declaration of solvency in prescribed form and an affidavit declaring that it is capable of meeting its liabilities and will not be rendered insolvent within a period of one year of the date of declaration ...
What is the record date for TCS buy back? ›
2] TCS buyback date: The buyback offer will open on 1st December 2023 and it will remain open till 7th December 2023. 3] TCS buyback record date: The record date for buyback of shares has been fixed on 25th November 2023 on ex-date basis.
How to check eligibility for buyback? ›
Buy-Back is a corporate action in which a company buys back its shares from the existing shareholders usually at a price higher than market price. When it buys back, the number of shares outstanding in the market reduces. You will be eligible for buyback if you hold stocks on the record date in your account.
Tender offer: The company makes an offer to buy back its shares at a particular price (offer price) at which the shareholders can tender, i.e., sell their shares. The amount is credited to the shareholders primary bank account. Clients can apply for more shares than their entitlement or eligibility.
Is it good to participate in buyback? ›
Who Benefits From a Stock Buyback? Companies benefit from a stock buyback because it can preserve stock prices, consolidate ownership, and take the place of dividends. Investors can benefit because they receive their capital back. However, a repurchase doesn't always benefit investors.
How to avail TCS buyback offer? ›
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.
What is the result of TCS buyback? ›
TCS anticipates that the buyback will result in an uptick in its EPS from ₹58.52 to ₹59.18 on a standalone basis, and the net worth is expected to increase from 49.89% to 62.56%.
What is the acceptance ratio of buyback? ›
Acceptance Ratio? The most important part of the buyback offer is the acceptance ratio. It is the ratio of the tentative amount of shares that will be accepted in the buyback offer to the total number of shares held by an investor. The commonly used unit of acceptance ratio is a percentage.
When to bid for TCS buyback? ›
Buyback Details
| Record Date | November 25, 2023 |
|---|
| Offer Closes On | December 7, 2023 |
| Finalisation of Buyback Acceptance | December 13, 2023 |
| Last Date for settlement of bids | December 14, 2023 |
| Last Date for Extinguishment of Shares | December 26, 2023 |
2 more rowsIt can potentially boost investor confidence and attract new investors. Return of Capital to Shareholders: Share buybacks are a way for companies to return excess cash to shareholders.
What is the record date for buyback? ›
The record date will usually be the trading day following the ex-dividend date, which is the trading date the dividend is no longer owed to new buyers of the stock. To be eligible for the upcoming dividend, you must buy the stock at least two business days before the record date.
How to participate in TCS buyback in icici direct? ›
Path: Menu > IPO àBuyback > Click on desired stock > Apply > Fill in the specifics > Swipe to Place Order. * Please note Brokerage would not exceed the SEBI prescribed limit.
