stock buyback will do Tata Sons The biggest beneficiary of profits as it is the largest shareholder of the IT major. Tata Sons holds 72 per cent stake in the IT giant. TCS closed 1.3% higher at Rs 3,855 till the end of Friday’s trade BSE ,
The development comes at a time when Tata Sons is completing the formalities for the acquisition of Air India. long-stop date of completion Air India The deal with the government is on January 23. Tata Sons had offered Rs 18,000 crore for Air India – it would take over the national carrier’s Rs 15,300 crore debt and pay Rs 2,700 crore in cash to the government.
According to TCS’s previous share repurchase expense (see graphic), if it repurchases Rs 16,000 crore of its stock this time too, Tata Sons will get Rs 11,000 crore from participating in the program. will pay Chandrasekaran, also chairman of Tata Sons, to strengthen the balance sheet and additional resources to make growth investments. He also said last month that Tata Sons’ growth strategy would be to play on the fourth theme – digital, new energy, supply chain and health. He described the winning bid for Air India as the “most important” milestone for the company. Tata Group,