S&R Associates Represented Broker in ₹94 Billion Bulk Sale of Tata Consultancy Services Shares
S&R Associates representing one of the brokers involved in a monumental bulk transaction concerning the sale of 23.4 million
S&R Associates Represented Broker in ₹94 Billion Bulk Sale of Tata Consultancy Services Shares S&R Associates representing one of the brokers involved in a monumental bulk transaction concerning the sale of 23.4 million equity shares of Tata Consultancy Services Limited (TCS), a leading information technology services and consulting company listed on the Indian Stock...
S&R Associates Represented Broker in ₹94 Billion Bulk Sale of Tata Consultancy Services Shares
S&R Associates representing one of the brokers involved in a monumental bulk transaction concerning the sale of 23.4 million equity shares of Tata Consultancy Services Limited (TCS), a leading information technology services and consulting company listed on the Indian Stock Exchanges. Initiated by Tata Sons, a major promoter of TCS, this significant sale amounted to a staggering INR 94 billion.
Under the leadership of partner Sudip Mahapatra and associate Komal Parakh, the legal team at S&R Associates demonstrated exceptional skill in navigating the complexities of the transaction, ensuring regulatory compliance, and facilitating the seamless execution of the deal.
The stock exchange announcement provided crucial pricing details regarding Tata Sons' sale of equity shares of Tata Consultancy Services Limited. Tata Sons initiated a block deal with the aim of offloading up to 2.34 crore shares of TCS at a floor price of Rs 4,001 per share. This floor price, which represents a 3.65% discount from the closing price of Rs 4,144.75 per share on the day preceding the transaction, underscores the strategic approach adopted by Tata Sons in divesting its TCS holdings.
In addition to the block deal, Tata Sons has also offloaded shares worth approximately Rs 9,300 crore in TCS through the open market route. This meticulously planned sale not only maximized value for Tata Sons but also provided investors with an opportunity to acquire shares in one of India's leading IT companies at an attractive price point.
S&R Associates' involvement in this landmark deal reaffirms the firm's status as a premier legal advisor in India's corporate landscape. Their contribution underscores their commitment to facilitating seamless and successful transactions for their clients, further solidifying their reputation for excellence in the legal industry.