TCS IPO opens on 29 July

The entire issue is being made through a book building process. The price band for the issue has been fixed at Rs.775 and Rs.900 per equity share of Re.1 each. The issue at these indicative prices would aggregate between Rs.4297.57 crore and Rs.4990.73 crore.

Of the 55,452,600 equity shares of Re.1 each on offer, the company is making a fresh issue of 22,775,000 shares and the remaining 33,677,600 shares are an offer for sale by Tata Sons Ltd and other shareholders of the company. There will also be a green shoe option of 8,317,880 equity shares of Re.1 each to be offered by Tata Sons aggregating between Rs.644.6 crores and Rs.748.6 crores.

Of the total offer, the company has reserved 5,545,260 equity shares for allotment to employees and directors of the company. Net offer to the public would be 49,907,340 shares, which amounts to 10.43 per cent of the post offer capital. If the green shoe option to issue an additional 15 per cent of the offer were accepted, the company would be making a total offer of 63,770,480 equity shares amounting to 13.33 per cent of the post equity capital of Rs.47.83 crore.

Tata Sons Limited, the holding and investment company of the 135-year old Tata group, including other Tata group companies would continue to hold 86.91 per cent of the post issue capital in the company if green shoe is not exercised.