November 20, 2023
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TCS Buyback 2023 Details, GMP & Guidance
About TCS ltd:
Tata Consultancy Services Limited (TCS) is an Indian multinational information technology (IT) services and consulting company headquartered in Mumbai. It is a part of the Tata Group and operates in 150 locations across 46 countries. In September 2023, it was reported that TCS had over 616,000 employees worldwide. TCS is the second-largest Indian company by market capitalization and is among the most valuable IT service brands worldwide, and is the top Big Tech (India) company. As of June 2023, it was the world’s second-largest user of U.S. H-1B visas.
As of 2018, it was ranked eleventh on the Fortune India 500 list. In September 2021, TCS recorded a market capitalization of US$200 billion, making it the first Indian IT tech company to do so. In December 2022, the market cap was Rs. 11,71,481.89 crore. In 2016–2017, parent company Tata Sons owned 72.05% of TCS and more than 70% of Tata Sons’ dividends were generated by TCS.
On 8 October 2020, TCS surpassed Accenture in market capitalization to become the world’s most-valuable IT company with a market capitalization of $144.73 billion. On 25 January 2021, TCS again surpassed Accenture briefly, in market capitalization to become the world’s most-valuable IT company with a market cap of $170 billion. The same day, TCS became India’s most valuable company, surpassing Reliance Industries with a market capitalization of Rs. 12.55 trillion (equivalent to Rs 14 trillion or US$180 billion in 2023).
In 2021 Tata was also one of the largest job provider in India hiring 43,000 individuals in H1 FY22. In October 2021, N Ganapathy Subramaniam, the COO of TCS, stated that its platforms and products business is worth approximately $3 billion. The company’s platforms and products business includes TCS’ SaaS-based platforms, and according to Subramaniam, between October 2020 and October 2021, 95% of the deals won by TCS have been for its cloud platforms and SaaS platforms.
For more information, visit company website : https://www.tcs.com/
Necessity of the TCS 2023 Buyback
The buyback is a capital allocation decision taken by the company.
1. The Buyback will help the company to distribute a part of surplus cash to its shareholders holding Equity shares thereby optimising returns to the shareholders and enhancing the overall shareholders’ value in longer term and improving the return on Equity.
TCS 2023 Buyback Detail
| Issue Period | 1 Dec to 7 Dec 2023 |
| Security Name | TCS Limited |
| Issue Type | Tender Offer |
| Issue Size (Shares) | 40,963,855.00 |
| Issue Size (Amount) | Rs 17,000.00 Crores |
| Buyback Price | Rs 4150 per share |
| Face Value | Rs.1 |
| Listing At | BSE, NSE |
TCS Limited Buyback Issue Timetable
| Last Date to buy shares | |
| Record Date | November 25, 2023 |
| Offer Opens On | December 1,2023 |
| Last Date for receipt of Tender Forms | |
| Offer Closes On | December 7, 2023 |
| Finalisation of Buyback Acceptance | 9 to 11 Dec 2023 |
| Last Date for settlement of bids | |
| Last Date for Extinguishment of Shares |
TCS Ltd Financial Snapshot (Restated, Consolidated)
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
| 31-Mar-21 | 130759 | 167311 | 32562 | – | – |
| 31-Mar-22 | 141514 | 195772 | 38449 | – | – |
| 31-Mar-23 | 143651 | 228907 | 42303 | ||
| Amount in Rs Crore | |||||
Registered Office of TCS Limited
Tata Consultancy Services Limited
TCS House,
Raveline Street
Fort, Mumbai 400 001
Manager to the TCS Limited Buyback
Jm Financial Limited
TCS Limited Buyback Registrar
Link Intime India Private Ltd
Company Secretary & Compliance Officer
Pradeep Manohar Gaitonde
TCS Limited Buyback particulars & review
by Paresh Gordhandas, CA & Research Analyst
Considering current market price of Rs. 3502, the buyback offer is very attractive for the retail shareholders of the company. however, the company has strong growth potential and I believe the share price of the company will show strong uptrend in the coming months. So, I suggest accumulating number of shares equivalent to the buyback from the open market.
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