Tata Sons To Offload TCS shares Worth $1.25 Billion

Mumbai: Tata Sons is set to sell on Tuesday a roughly 1.5 per cent stake in its flagship Tata Consultancy Services for about $1.25 billion.

Tata Sons, which owned 73.5 per cent of TCS as of end-December, is selling TCS shares in a price range of Rs 2,872 to Rs 2,925 each, according to a deal term sheet.

That would be a discount of 4.2 to 5.9 per cent to TCS's Monday closing price of Rs 3,052.15.

TCS, the top Indian software services exporter, is the second-most valuable company in the country with a market capitalisation of close to $90 billion.

Citigroup and Morgan Stanley are managing the TCS share sale.

Comments

 

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)