Tata Sons Capital Raise: Offering Discounted Rate on Sale of 2.34 Crore TCS Shares
It seems is planning to raise capital by selling some of its shares in TCS. Here’s a breakdown of the terms:
Tata Sons plans to sell 2.34 crore shares of TCS via block deals.
The offered price per share is Rs. 4001/Share.
The deal is being offered at a discount of 3.60% to today’s closing price.
The closing price of TCS shares today was Rs. 4144.25.
TCS Market Value is rs.15 lakh crore. 2nd most valuable company in India
The total deal value is calculated to be approx. Rs. 9362 crore.
This move suggests is aiming to raise at least $1.1 billion (approximately Rs. 8000 crore) from this sale. – reported by Bloomberg on 18 March 24.
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