Notice No20201214-43Notice Date14 Dec 2020
CategoryTradingSegmentEquity
SubjectOpening of Offer to Buy – Acquisition Window (Buyback) Tata Consultancy Services Limited
Content

 

Trading Members and Custodians are requested to note that Securities Exchange Board of India (SEBI) has issued Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeover, Buy Back and De-listing vide its circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 and no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016. The Exchange vide its notice no. 20170210-16 dated Feb 10, 2017,20190424-35 dated April 24, 2019 and 20200528-32 dated 28 May 2020has issued Revised Guidelines of Mechanism for acquisition of shares through Stock Exchange pursuant to Tender-Offers under Takeovers, Buy Back and Delisting.

 

All Market Participants are hereby informed that Tata Consultancy Services Limited (“the Company”) has announced an offer to buy back fully paid-up equity shares of face value of Re. 1 (Rupee One Only) each of up to 5,33,33,333 (Five Crore Thirty-Three Lakh Thirty-Three Thousand Three Hundred And Thirty-Three) equity shares from the equity shareholders/beneficial owners of equity shares as on November 28, 2020 (the “Record Date”), on a proportionate basis by way of the Tender Offer route as prescribed under the Buyback Regulations, through Stock Exchange Mechanism at a price of Rs. 3,000 (Rupees Three Thousand Only) per equity share payable in cash for an aggregate consideration not exceeding Rs. 16,000 Crore (Rupees Sixteen Thousand Crore Only) (The “Buyback”), from December 18, 2020 to January 1, 2021

 

Letter of Offer is herewith attached for perusal.

 

Market participants are further requested to note that this offer will be as per the Revised Guidelines of SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016 and Exchange notice no. 20170210-16 dated Feb 10, 2017 and 20190424-35 dated April 24, 2019 along with the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.

 

 

Atul Dhotre

Senior Manager

Listing Sales & Ops

December 14, 2020

 

Attachments
Letter of Offer.pdf