Tata Consultancy Services (TCS) has received its shareholders approval for Rs 16,000 crore share buyback plan. The buyback programme, which was passed through a special resolution, saw 99.81% of the total number of valid votes being cast in favour of the proposal. The proposed shares under the buyback represent 2.85% of the total paid up equity share capital at Rs 2850 per equity share. In February, the board of TCS had approved the proposal to buy back up to 5.61 crore equity shares for an aggregate amount not exceeding Rs 16,000 crore.
TCS is an IT services, consulting and business solutions organization that delivers real results to global business, ensuring a level of certainty no other firm can match. TCS offers a consulting-led, integrated portfolio of IT, BPS, infrastructure, engineering and assurance services.
