TCS promoter, promoter group to participate in share buyback

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Mumbai, June 29 (IANS) IT major Tata Consultancy Services (TCS) on Friday said that its “promoter and promoter group” have shown interest to participate in the proposed buyback of the firm’s shares.

“In terms of the SEBI Buyback Regulations, under tender offer route, the promoters have the option to participate in the buyback,” TCS said in a regulatory filing.

“We would like to inform you that the Promoter and Promoter Group of the Company have communicated their intention to participate in the proposed buyback.”

According to the filing, “the buyback is subject to the approval of members by means of special resolution through postal ballot”.

–IANS

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