The Company has fixed Saturday, November 28, 2020, as the Record Date for the purpose of determining the entitlement and the names of the equity shareholders who shall be eligible to participate in the buyback, it said.
Tata Consultancy Services (TCS) share price was up a percent at open on November 19 after the company set a record date of buyback plan.
Tata Consultancy Services, in its latest filings to exchanges, said that members of the Company have approved the Buyback by passing a special resolution through postal ballot.
"The Company has fixed Saturday, November 28, 2020, as the Record Date for the purpose of determining the entitlement and the names of the equity shareholders who shall be eligible to participate in the buyback," the company filing said.
The stock was trading at Rs 2,654.20, up Rs 28.30, or 1.08 percent. It has touched an intraday high of Rs 2,678.60 and an intraday low of Rs 2,630.
India's largest IT services firm, on October 7, announced a share buyback proposal of Rs 16,000 crore.
The board had approved a proposal to buy back up to 5,33,33,333 equity shares, being 1.42 percent of the total paid-up equity share capital, at Rs 3,000 per equity share for an aggregate amount not exceeding Rs 16,000 crore (excluding taxes and related expenses).