Tata Sons to participate in share buy-back: TCS

Mumbai, March 1 (IANS) IT major Tata Consultancy Services on Wednesday said that Tata Sons will participate in the company’s upcoming share buy-back.

“In terms of Sebi buyback regulations, under tender offer route, the promoters have the option to participate in the buyback,” the IT major informed the BSE in a regulatory filing.

“We would like to inform that the promoter and promoter group of the companies have communicated their intention to participate in the proposed buyback,” it said.

On February 20, 2017, the global software major announced that it will buy back up to Rs 5.61 crore equity shares of Re 1 face value for Rs 16,000 crore.