Tata Sons looks to sell Rs 9,000 crore TCS shares to reduce debt

Monday, 18 March 2024
Tata Sons is aiming to raise around Rs 9,362 crore ($1.1 billion) by selling shares of its lucrative unit Tata Consultancy Services (TCS) on Tuesday. This move is part of Tata Sons' efforts to lower its debt burden. The company is restructuring its balance sheet to avoid mandatory public listing under RBI's 'upper layer' NBFC regulations. These regulations require companies to adhere to strict guidelines, including a mandatory listing within three years of notification.

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TCS shares decline nearly 2% amid reports of Tata Sons selling minor stake

Shares of Tata Consultancy Services (TCS) on Monday declined nearly 2 per cent amid reports that its promoter Tata Sons is likely to sell a minority stake in the...
IndiaTimes on March 18, 2024