Tata Consultancy Services (TCS), the country's largest software exporter, today said its promoter Tata Sons has pledged 10.89 crore shares representing 11.14 per cent stake in the company with lenders.
In a disclosure to the National Stock Exchange, TCS said that its main promoter, Tata Sons, has pledged 10.89 crore shares without giving any details about the transaction date.
At the end of December quarter, Tata Sons held 73.75 per cent stake in TCS.
Calculated on the basis of today's market price of TCS scrip, the pledging would have fetched the promoter over Rs 5,610.26 crore.
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.
The promoters of 10 Tata Group companies have pledged shares close to 128 crore in all.