TCS buyback offer: Tata Sons tenders shares worth Rs 9,997 crore

Bengaluru: Tata Sons tendered shares worth nearly Rs 10,000 crore in the Rs 16,000-crore buyback offer of Tata Consultancy Services (TCS), according to a regulatory filing by India’s largest IT company.TCS’ parent Tata Sons tendered more than 3.33 crore shares worth Rs 9,997.5 crore in the offer. Life Insurance Corporation of India (LIC) and RBC Emerging Markets Equity Fund tendered around 16.69 lakh shares and 7.69 lakh shares of TCS in the buyback offer that closed on January 1. TCS offered Rs 3,000 per share in the buyback, the third in four years.TCS had undertaken a share buyback of about Rs 16,000 crore in 2017 and 2018. TCS shares closed at Rs 3,052.95 on the Bombay Stock Exchange on Wednesday.