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Tata Sons pledges 10.89 crore TCS shares

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CIOL Bureau
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MUMBAI, INDIA: India's largest software exporter Tata Consultancy Services said that its promoter Tata Sons has pledged 10.89 crore shares representing 11.14 per cent stake in the company with lenders.

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In a disclosure to the National Stock Exchange, TCS said its main promoter, Tata Sons, has pledged 10.89 crore shares without giving any details about the transaction date.

Calculated on the basis of the current market price of TCS scrip, it is estimated that the promoters have fetched over Rs 5,610.26 crore through the pledging of shares. At the end of December quarter, Tata Sons held 73.75 per cent stake in TCS.

TCS is the latest Tata Group company after Tata Steel, Tata Motors, Tata Communications, Tata Teleservices (Mah), and Tata Power among others to disclose the promoter pledging of shares.

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