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The ₹16,000-crore share buyback offer from Tata Consultancy Services to its shareholders will open on Thursday. The IT services company will buy back 5.6 crore equity shares, about 3 per cent of its total equity, at ₹2,850 a share. TCS will buy back the shares on proportionate basis under the tender offer route. Shareholders whose names are on the company’s books as of May 8 can participate in the buyback. The buyback window will close on May 31.
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