Mumbai: Tata Consultancy Services Ltd (TCS), which plans to buy back shares worth up to Rs 16,000 crore ($2.39 billion), said on Wednesday the founder group of the company intended to participate in the proposed buyback.
TCS, the country's top software services exporter, is part of the salt-to-software Tata conglomerate, whose holding company is Tata Sons Ltd.
Tata Sons owned 73.26 percent of TCS as of the end of December, according to stock exchange data.
TCS last month approved the buyback of up to 56.1 million shares at Rs 2,850 apiece.
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