TCS Share buyback will start from Thursday,6th September and the tender office facility will remain open till Friday 21st September 2018. It is the most awaited share buyback of 2018.
TCS will be spending about RS. 16,000 crores in order to buy back as much as 7.61 crores equity shares. at a share price of RS 2,100.
Today,5th September a mock bidding session will be conducted on National Stock Exchange.
NSE circular said all trading members of capital market segment who are tendering TCS shares in the issue period are eligible to participate in tender offer facility. Trading members can use their existing user ids for login into tender office facility, as they are already using web-based IPO bidding.
Check Bidding time, live URL, mock bidding, other details
The bidding time for trading members will be from 9:15 am to 3:30 pm. It is applicable on all dates excluding 13 and 20 September. Two dates, 13 and 20 September (both Thursdays), are excluded from the issue period. Through this link: https://www.nseindiaipo.com/ (Live URL for trading members) all the trading members can participate in the bidding process.
Admin terminal has enabled in exchange for those who don’t have access to the system.NSE Circular said, “Members will have to login into the admin terminal and create branches and users to participate in the bidding. The user id for login into the web-based IPO bidding platform would be Adminxxxxx (where XXXX is the member)”.
Today at 5th September 2018 the mock bidding session will be conducted from 10:00 am to 5:00 pm. Users can participate in the mock bidding session through this link: https://22.214.171.124/eipo/bidux/login.jsp (mock URL for members). The security symbol for participating in TCS share buyback is MOCKTCS.
Earlier in June this year, TCS declared a vast share buyback of Rs 16,000 crores following the successful completion of share repurchase of similar quantum in the previous year. The record date for the said buyback was fixed as 18 August 2018. JM Financial Services Ltd was nominated as the merchant banker to the share repurchase and Link Intime India Pvt Ltd was the registrar to the issue.