Tata Sons to sell more than $1 billion worth of TCS shares in a block deal on Tuesday
Tata Sons owned 73.5 percent of TCS as of end-December
Munbai: Tata Sons, the holding company of salt-to-software Tata conglomerate, is set to sell more than $1 billion worth of shares in flagship Tata Consultancy Services in a block deal on Tuesday, a source with knowledge of the matter told Reuters.
Tata Sons owned 73.5 percent of TCS as of end-December.
It is planning to sell the TCS shares for Rs 2,872 to Rs 2,925 each, CNBC TV18 reported on Monday.
That would be a discount of 4.2 to 5.9 percent to TCS’s Monday closing price of Rs 3,052.15.
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The investment in 1MG strengthens Tata's ability to provide high quality healthcare products and services in e-pharmacy and e-diagnostics space through a technology-led platform, said CEO of Tata Digital