Tata to Sell $1.25 Billion of Tata Consultancy Stake to Pay Debt


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

 Tata Sons will sell 28.27 million shares of Asia’s largest software developer, or about 1.48 percent stake, according to the terms. The company plans to sell the shares at between 2,872 rupees to 2,925 rupees a share, the terms show. Citigroup Inc. and Morgan Stanley are the bankers to the sale. Tata Consultancy, which is 73.5 percent owned by its parent, rose 0.6 percent to 3,052.15 rupees in Mumbai earlier on Monday…
Categories : Finance

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