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How do I apply for TCS buyback?

You will be eligible for buyback only if the shares are in your holdings as of February 23, 2022. This means you should have bought the stock on Feb 21st 2022 or earlier.

Your TCS holdings will be reduced by the number of shares tendered for the buyback until March 22, 2022 and will not be visible on Kite and Console. You will see NO BIDS in the Bid qty column on Console. Do not place new orders if you have successfully placed buyback orders. A notification is sent to the registered e-mail address once your buyback orders are placed successfully.

You can place orders till the offer closure date, i.e. 23-03-2022 till 1:00 PM. You can tender shares by visiting console.zerodha.com/portfolio/corporate-action-order-window .

To apply for the buyback, follow the steps below:

  1. Visit console.zerodha.com.
  2. Tap on the context menu and then Portfolio .
  3. Tap on Corporate actions .
  4. Under the Buybacks tab, tap on TCS and then Place order .
  5. Enter the quantity and tap on Submit .

If you have already placed an order, order received status will be displayed on the order window.

To know about buybacks in detail, see How do I apply for a Buyback/Takeover/Delisting?

What are the charges for placing buyback orders?

The charges are ₹20+GST per order and are non-refundable irrespective of whether the order is accepted, rejected or failed. If multiple orders are placed, charges will be levied accordingly. Statutory charges are also applicable. To know more, see What are the various statutory charges like stamp duty and taxes etc.?

What are the categories in which I can tender shares in buyback?

There are two categories, Retail and General, through which one can tender shares in the buyback. The value of shares held in the demat account by February 23, 2022 end-of-the-day will determine the category through which one will be eligible to apply.

All shareholders holding shares worth ₹2 lakhs or less will be considered under the Retail category. In contrast, those holding shares worth more than ₹2 lakhs will be considered under the General category. 15% of the buyback is the reservation for the retail category.

Will I be eligible for the buyback if I’ve pledged shares of TCS?

Yes, even if the shares are pledged, you are eligible for all corporate action benefits. However, you will have to unpledge the shares before tendering them in the buyback. See How do I unpledge shares?

Do I need to submit POA to tender shares in buyback?

POA is not needed to tender shares in the buyback. You can apply for buyback by authorizing CDSL TPIN and OTP. See What is the CDSL TPIN and how do I use it to sell my stock holdings?

To get updates on the buyback, visit tradingqna.com/t/everything-you-need-to-know-about-the-tcs-buyback