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Tata Sons selling $1.25 billion worth of TCS shares

Reuters  |  MUMBAI 

MUMBAI (Reuters) - India's Tata Sons is set to sell on Tuesday a roughly 1.5 percent stake in its flagship Tata Consultancy Services for about $1.25 billion.Tata Sons, which owned 73.5 percent of TCS as of end-December, is selling TCS shares in a price range of 2,872 rupees to 2,925 rupees each, according to a deal term sheet.That would be a discount of 4.2 to 5.9 percent to TCS's Monday closing price of 3,052.15 rupees.TCS, the top Indian software services exporter, is the second-most valuable company in the country with a market capitalisation of close to $90 billion.Citigroup and Morgan ...

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First Published: Mon, March 12 2018. 19:20 IST
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