![Tata Sons to sell 9K cr TCS shares](https://cdn.magzter.com/1574835453/1710800614/articles/vQPpWzR2I1710809901752/TATA-SONS-TO-SELL-9K-CR-TCS-SHARES.jpg)
TATA SONS is planning to sell 2.34 crore shares through block deals in its most valuable listed company -- Tata Consultancy Services (TCS).
The number of shares put on sale translates to 0.64% of the IT behemoth's total outstanding equity and this exercise is expected to raise funds worth more than ₹9,000 crore for the promoter company Tata Sons.
The offer price for the block deal is kept at ₹4,001 per share, a 3.45% discount compared to Monday's closing price for TCS. Shares of TCS ended 1.78% lower to close at ₹4,144 on the NSE and the second most valuable listed company in India had a market capitalisation of ₹15 lakh crore.
This story is from the March 19, 2024 edition of The Morning Standard.
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This story is from the March 19, 2024 edition of The Morning Standard.
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