Tata Group’s parent company Tata Sons is planning to sell 2.34 crore shares of its software firm TCS at a price of Rs 4,001 per share. The value of this block deal is estimated to be around Rs 9,300 crore. Let us tell you, Tata Sons has 72.38 percent stake in TCS and the share has increased by more than 30 percent in the last one year.
It is believed that the step has been taken by Tata Sons to avoid listing, because RBI has considered Tata Sons as an upper layer NBFC company and its listing has been made mandatory.
Touched 52 week high
TCS shares opened today at 52-week high of Rs 4254. But during the day’s trading, the stock could not hold the upper levels and closed 1.78 percent lower at Rs 4,144 per share. After Reliance Industries, TCS is the second largest company in the country in terms of market cap. Its market cap is more than Rs 15 lakh crore.
Tata Group shares rise
Earlier this month, an upward trend in the shares of Tata Group was seen after the report of Spark Capital. It was said that talks were held regarding the listing of Tata Sons by September 2025. Tata Sons has a debt of more than Rs 20,000 crore. If Tata Sons wants to avoid listing then it will have to reduce its debt to Rs 100 crore. To do this, Tata Sons will have to transfer its debt to Tata Capital Financial Services. This may provide relief to Tata Sons from the mandatory rules of listing.
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