Tata Sons to sell 2.34 crore shares in TCS through block deals: Report

Tata Sons is offering to sell 2.34 crore shares of IT major Tata Consultancy Services Ltd (TCS) at a floor price Rs 4,001 per share through block deals to raise up to $1.1 billion, said a report by Bloomberg on Monday. The reported price is a discount of 3.6 per cent to Monday’s closing price.

The 2.34 crore shares represent 0.65 per cent equity of TCS. At a market capitalisation of Rs 15 lakh crore, TCS is India’s second most-valued listed company after Mukesh Ambani’s Reliance Industries Ltd (RIL).