TCS to merge 3 subsidiaries

The board of directors of Tata Consultancy Services, which had met on July 15, 2005, approved the amalgamation of three unlisted, wholly-owned subsidiaries with the company.

According to a release issued by TCS to the BSE today, the three subsidiaries are Airline Financial Support Services India, Aviation Software Development Consultancy India and TCS Business Transformation Solutions.

"Since the companies are wholly-owned subsidiaries, no new shares will be issued upon amalgamation," the release added.