HCL Tech: Buyback offer opens today

Shares of HCL Technologies will remain in focus, as the company’s ₹4,000-crore buyback offer opens on Tuesday. It will close on October 3. The company, which is offering ₹1,100 a share, plans to buy back up to 3.64 crore fully paid-up equity shares, representing 2.61 per cent of the company’s outstanding shares as on March 31, 2018. Only those shareholders whose names had appeared on August 31 (record date) can participate in the buyback offer, which is through the tender route.