TCS Shares Deal: Tata Sons has decided to sell shares of Tata Consultancy Services (TCS), the country's largest software company. Tata Sons has decided to sell 2.34 crore shares of TCS for approximately Rs 9300 crore under the block deal. TCS's parent company Tata Sons can do this big deal at the rate of Rs 4001 per share. The parent company holds 72.38 percent stake in software exporter TCS. TCS shares have risen by more than 30 percent in the last one year.
Tata Sons wants to avoid listing
According to Bloomberg report, Tata Sons is to be listed on the stock exchange under the new rules of the Reserve Bank of India (RBI). Due to this block deal of TCS, it will be easier for Tata Group to avoid public market listing of Tata Sons. According to RBI rules, all big non-banking finance companies (NBFCs) will have to be listed on the stock exchange. Tata Sons also falls in this category.
TCS touched all time high
On Monday, TCS shares reached their all-time high rate of Rs 4254.45 on Bombay Stock Exchange (BSE). However, at the end of the day it went down by 1.7 percent and closed at Rs 4144.75. The market value of TCS is Rs 15 trillion. It is behind only Reliance Industries in terms of market value. Tata Sons is going to make this big deal at 3.6 percent discount price from Monday's closing rate.
Tata Group stocks performing well
Tata Group stocks are performing well in March. According to the report of Spark Capital, the listing of Tata Sons is to be done by September 2025. According to the RBI notification, by then Tata Sons will complete its tenure of 3 years as an upper layer NBFC. According to the report, if Tata Sons restructures its debt or sells its stake in Tata Capital Financial Services to any other company, it will lose the status of Core Investment Company (CIC) under Upper Layer NBFC. This will make that listing out of the rules.
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