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Tata Sons plans to raise around Rs 8,200 cr via TCS share sale

Press Trust of India  |  New Delhi 

Sons, the promoter of major operating companies of the group, is planning to raise around Rs 8,200 crore by selling stake in IT major TCS, according to

Sons is looking to sell around 2.83 crore shares amounting to about 1.48 per cent stake in and the transaction is likely to be happen this week, the sources added.

When contacted, declined to comment.

After the proposed share sale, Tata Sons' holding in (TCS) will come down to around 72 per cent from 73.52 per cent as on December, 2017.

The sources said intends to use the proceeds from the share sale to reduce debt in the group's telecom arm which has debt of around Rs 40,000 crore.

Last year in October, had agreed to sell its business to on "a debt-free cash-free basis".

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, March 12 2018. 20:20 IST