Tata Sons, the holding firm of Tata Consultancy Services (TCS), intends to sell 23.4 million TCS shares, valued at least ₹9,300 crore. The offer price of ₹4,001 per share represents a 3.6% discount from Monday's closing price.
Tata Sons holds a 72.38% stake in TCS as of December 2023. Despite TCS's market cap of over ₹15 lakh crore, nearly half of Tata Group's total market value, the stock slid 1.75% on Monday. Tata Sons aims to invest significantly in electronics and semiconductors, including establishing a semiconductor plant in Gujarat and a chip unit in Assam. The move aligns with the group's strategic investments for the future.