19-Mar-2024
2 mins read
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Tata Sons owned majorly stake in Tata Consultancy Services, as per reports Tata Sons to sells at Rs 4001 each for its 2.34 Crore share via block deal that summed up to 1.1Billion. As on March 18, 2024 TCS (Tata Consultancy Services Limited) closed at 4152.5, -1.58% from its previous day.
Tata Group companies have been under the spotlight this month due to the possible listing of Tata Sons IPO by September 2025. The notification released by Reserve Bank of India three years ago classifying Tata Sons as an upper-layer NBFC, which may have to be on a public listing.
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TATA Sons held 72.38% Stake in TSC
As per reported, till December 31, 2023 TCS was primarily owned by its promoters with 72.41%, on which Tata Sons reported 72.38% stakes in the company, rest of the portion held by Tata Investment Corporation. Citigroup and JPMorgan will be as joint bookrunners for the proposed share sale.
TCS is reported the 2nd most valued corporation after the Reliance, Tata Sons planning to dilute 2.34 Crore shares represents 0.65% equity from its 15 Lakh crore market capitalization. As reported 29 publicly listed Tata Group companies is generally controlled by Tata Sons with a combined market cap. of Rs 31.6 lakh Crore.
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