TCS announced on Monday that its Rs 18,000 crore share repurchase offer would begin on March 9 and end on March 23.  The company announced a 4 crore share buyback programme on February 12 at a price of Rs 4,500 per share.

According to a BSE filing, TCS has designated April 1, 2022 as the final deadline for settlement of bids on stock markets, however this could happen quicker.

As per the company document filed earlier,  TCS promoters Tata Sons and Tata Investment Corporation Ltd (TICL) aim to participate in the repurchase offer by submitting shares worth Rs 12,993.2 crore. Tata Sons, which owns 266.91 crore shares, plans to submit 2.88 crore, while TICL, which owns 10,23,685 shares, plans to present 11,055 shares, according to the statement. At Rs 4,500 per share, the two companies will make Rs 12,993.2 crore.

The previous TCS repurchase, worth Rs 16,000 crore, began on December 18, 2020, and ended on January 1, 2021. In that sale, Tata Sons offered shares worth Rs 9,997.5 crore.

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