what is tcs buyback offer

Tata Consultancy Services (TCS) is conducting a buyback offer, which is a corporate action where a company repurchases its own shares from the existing shareholders. The buyback offer is for up to 4,09,63,855 fully paid-up equity shares of face value of ₹1 each, with an amount not exceeding ₹17,000 crore. The buyback price is set at ₹4,150 per share, and it will be implemented through the "Tender Offer" route, which means the company will buy back its shares at the pre-determined price. The buyback period opened on a specified date and will close on a specified date. Shareholders can participate in the buyback by tendering their shares through the stock exchange mechanism. The buyback aims to return excess cash to the shareholders, increase shareholder value in the longer term, and improve the Return on Equity