Buyback of equity shares by companies has hit a six-year high in FY17

41 companies buy back shares worth Rs 27,783 crore in FY17

Buyback of equity shares by companies has hit a six-year high in financial year 2016-17 (FY17), with 41 companies announcing a share buyback offer in the last 11 months totalling Rs 27,783 crore, as against 16 firms doing so during the entire previous financial year 2016 (FY16). Of this, 10 companies still have the buyback offer open amounting to Rs 1,575 crore; and this excludes the proposed open offer by Tata Consultancy Services (TCS).

Most of these companies announced buyback through the tender route, under which repurchases were executed using a fixed price tender offer. While a share buyback does not