India's Tata Sons selling $1.25 billion worth of TCS shares: term sheet

Tata Sons Ltd India’s biggest business group plans to sell $1.25 billion of its stake in Tata Consultancy Services, according to terms of the transaction

Tata Sons To Sell Tata Consultancy Stake Worth $1.25 Billion To Repay Debt

Munbai: Tata Sons, the holding company of salt-to-software Tata conglomerate, is set to sell more than $1 billion worth of shares in flagship Tata Consultancy Services in a block deal on Tuesday, a source with knowledge of the matter told Reuters.

It is learnt that Tata Sons will be selling close to 2.83 crore shares, which translates to about 1.48 per cent of the software services firm.

Bills have 'some interest' in QB Sam Bradford — NFL free agency
The Vikings went 11-3 in games started by Keenum during the regular season on their way to a first-round playoff bye. The Vikings will officially have a new starting quarterback next season. "I still think we're not too far away".

TCS fell 4.84% to Rs 2,904 at 9:46 IST on BSE after media reported that Tata Sons will sell about 1.5% stake in TCS through the stock exchanges between 13 and 15 March 2018.

Some reports said Tata Sons may already have sold stake after markets opened on Tuesday, while others suggested that the sale took place on Monday evening. The money raised from the stake sale will be used by Tata Sons to strengthen its balance sheet. Tata sold Tata Teleservices Ltd.'s mobile-phone operations to Bharti Airtel Ltd. past year and pledged to pay the unit's obligations.

Up to 1K children abused UK's 'worst ever' scandal
Details emerged of alleged child abuse cases involving possibly thousands of young girls dating back to the late1980s. Becky Watson was killed in an unexplained vehicle accident when she was 13.

The conglomerate has been planning to raise its ownership over time in five of its largest businesses including Tata Chemicals Ltd. and Tata Steel Ltd., Bloomberg News reported a year ago.

The offering for the Tata Consultancy stocks are to be arranged by Citigroup Inc. and Morgan Stanley with a price range representing a 4.2 percent to 5.9 percent discount to its last closing.

2 dead in chopper crash in New York City's East River
Photo A diver with the New York Fire Department is hosed down after he pulled victims from the submerged helicopter. CBS2 asked Liberty Helicopters where the tool was located, but they didn't respond.

Latest News