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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 November 25, 2023. This means you should have bought the stock on November 23, 2023 or earlier.

Your TCS holdings will be reduced by the number of shares tendered for the buyback until December 12, 2023, 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. 07-12-2023 till 1:30 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 not submitted DDPI or a POA, you will need to authorise your holdings by entering CDSL T-PIN. To learn more, visit What is the CDSL TPIN and how to use it to sell the stock holdings?

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 to apply for buybacks, takeovers and delistings at Zerodha?

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.?

Can I tender more shares than I’m entitled to?

Yes, you can tender more shares than you are entitled to. However, if you tender more shares than your entitlement, then whether these additional shares will be accepted for buyback or not will solely depend on the acceptance ratio decided by the company. The shares that are not accepted will be credited back to your demat account by the RTA.

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 November 25, 2023 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.

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 to unpledge instruments?

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

POA or DDPI 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