Tata Sons sells stake in TCS worth Rs9,000 crore

Tata Sons sells stake in TCS worth Rs9,000 crore

By / Business News / Wednesday, 14 March 2018 07:45

New Delhi,
Tata Sons today sold shares valued at nearly Rs 9,000 crore in Tata Consultancy Services (TCS) through open market transactions.

The amount of shares offloaded by the major promoter of TCS translates to around 1.63% stake.

According to bulk deal data available with the NSE, Tata Sons has sold little over 3.12 crore shares in TCS through two transactions.

Post the share sale, Tata Sons’ holding in the IT company would be around 72%. On Monday, sources had said that Tata Sons intends to use the proceeds from the share sale to reduce debt in the group’s telecom arm Tata Teleservices.

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Hum Hindustani

Hum Hindustani

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