Tata Sons to participate in second round of TCS share buyback

Tata Sons had added over Rs 102.8 billion to its coffers from previous buyback in FY18

Tata Consultancy Services has informed that its promoter, Tata Sons, will be participating in the proposed share buyback initiative, in an exchange filing.

"We would like to inform you that the promoter and promoter group of the company have communicated the intention to participate in the proposed buyback," said the company in a statement.

The software giant had previously announced plans to buyback up to 76 million equity shares at Rs 2,100 per share for an amount not exceeding Rs 160 billion. Tata Sons had added over Rs 102.78 billion to its coffers from the previous buyback in FY18.