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 2020, 20201102-43 dated Nov 02, 2020 and 20210825-62 dated Aug 25,2021 has 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 a Cash offer to Buyback fully paid-up equity shares of face value of Re.1 (Rupee One Only) each of up to 4,00,00,000 (Four Crore) equity shares from the equity shareholders/beneficial owners of equity shares as on February 23, 2022 (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.4,500 (Rupees Four Thousand Five Hundred only) per equity share payable in cash for an aggregate consideration not exceeding Rs.18,000 Crore (Rupees Eighteen Thousand Crore Only) (The “Buyback”) from March 09, 2022 to March 23, 2022.
Letter of Offer is herewith attached for perusal.
Market participants are further requested to note that this offer will be as per the SEBI circular no. CIR/CFD/POLICYCELL/1/2015 dated April 13, 2015 and SEBI circular no. CFD/DCR2/CIR/P/2016/131 dated Dec 09, 2016 and Exchange notice no. 20170210-16 dated Feb 10, 2017, 20190424-35 dated April 24, 2019 and 20200528-32 dated 28 May 2020 and the details of this Offer to Buy would be available on BSE Website – www.bseindia.com.
Atul Dhotre
Senior Manager
Listing Sales & Ops
March 07, 2022 |