Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

TCS Releases 20lk Pledged Shares Worth Rs 250 Cr

Country's largest software firm Tata Consultancy Services (NYSE:TCS) today said its promoter Tata Sons has released 20 lakh pledged shares.

At the current value, these shares are worth Rs 250 crore.

At the end of last quarter, Tata Sons held 144,34,51,698 total shares or 73.75% stake in TCS, out of which 7,95,00,000 shares were pledged.

Out of these pledged shares, Tata Sons has released 20,00,000 shares, the company said in a BSE filing. Total number of pledged shares now stand at 7,75,00,000, while Tata Sons' unpledged holding currently stand at 136,59,51,698 shares, accounting for a 69.79% stake in TCS.

Shares of TCS were trading at 1,254.85 a piece, down 0.77% on the BSE.