Tata Consultancy Services says founders to participate in share buyback

Tata Consultancy Services Ltd (TCS), which plans to buy back shares worth up to Rs 160 billion, said on Wednesday the founder group of the company intended to participate in the proposed buyback.

Tata Consultancy Services Ltd (TCS), which plans to buy back shares worth up to Rs 160 billion, said on Wednesday the founder group of the company intended to participate in the proposed buyback.

Logos of Tata Consultancy Services (TCS) are displayed at the venue of the annual general meeting of the software services provider in Mumbai. (Reuters File Photo)

TCS, the country’s top software services exporter, is part of the salt-to-software Tata conglomerate, whose holding company is Tata Sons Ltd.

Tata Sons owned 73.26% of TCS as of the end of December, according to stock exchange data.

TCS had last month approved the buyback of up to 56.1 million shares at Rs 2,850 apiece.