Tata Sons rakes in Rs 11,200 crore on selling TCS shares during buyback

NEW DELHI: Tata Sons sold 2.48 crore shares of Tata Consultancy Services (TCS) to the company during its recently concluded buyback offer, raking in a total Rs 11,163 crore at Rs 4,500 per share.

Out of the total accepted shares by TCS, Tata Sons' portion constituted 62.02 per cent of the buyback size. Tata Sons is the promoter of the company. After the buyback, its stake in TCS stood at 72.30 per cent compared to 72.19 per cent before the offer.

Another major investor that participated in the buyback was Life Insurance Corporation (LIC). The insurer offered 11.74 lakh shares.


The company said a total of 30.10 crore shares were offered by investors which was nearly nine times the offer size of 4 crore shares. Small retail investors offered 2.53 crore shares while shares offered under the general category were 27.57 crores.

The company had announced a buyback worth Rs 18,000 crore at Rs 4,500 per share. These shares will be extinguished today onwards.