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TCS buyback: Tata Sons sells shares worth Rs 10,000 crore
Tata Sons Pvt Ltd, the holding company of salt-to-software Tata Group, has raised about Rs 10,000 crore from selling close to 1 per cent holding in Tata Consultancy Services (TCS) in the IT firm s recently concluded share buyback.
Tata Sons tendered 3.33 crore shares in the group s most profitable firm s share buyback plan, according to a company s filing to the stock exchanges.
Post completion of the buyback, where the company will buy shares and extinguish them, Tata Sons will hold 72.16 per cent of TCS.
At the buyback price of Rs 3,000 apiece, Tata Sons share sale amount comes to Rs 9,997 crore.
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Tata Sons To Acquire 32.67% More In AirAsia India For $37.66 mn; Stake To Rise To 83.67%
The announcement comes weeks after the Malaysia airline group said it is reviewing its investment in low-cost carrier AirAsia India, which has been draining cash and causing much financial stress while also flagging its concerns about its businesses in Japan and India.
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Tata Sons will increase its stake in budget carrier AirAsia India (AAI) to 83.67 per cent by acquiring an additional 32.67 per cent for USD 37.66 million from AirAsia Investment Ltd (AAIL), according to a regulatory filing.
Currently, AAIL, which is a wholly-owned subsidiary of Malaysia-based AirAsia, holds 49 per cent stake in the Bengaluru-based AirAsia India.
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Tata Sons to acquire 32.67% more in AirAsia India for USD 37.66 mn; stake to rise to 83.67%
Tata Sons will increase its stake in budget carrier AirAsia India (AAI) to 83.67 per cent by acquiring an additional 32.67 per cent for USD 37.66 million from AirAsia Investment Ltd (AAIL), according to a regulatory filing.
Currently, AAIL, which is a wholly-owned subsidiary of Malaysia-based AirAsia, holds 49 per cent stake in the Bengaluru-based AirAsia India.
The announcement comes weeks after the Malaysia airline group said it is reviewing its investment in low-cost carrier AirAsia India, which has been draining cash and causing much financial stress while also flagging its concerns about its businesses in Japan and India.
Tata Sons to acquire 32.67% additional stake in AirAsia India for $37.66 million
Currently, AAIL, which is a wholly-owned subsidiary of Malaysia-based AirAsia, holds 49 per cent stake in the Bengaluru-based AirAsia India.
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Tata Sons will increase its stake in budget carrier AirAsia India (AAI) to 83.67 per cent by acquiring an additional 32.67 per cent for USD 37.66 million from AirAsia Investment Ltd (AAIL), according to a regulatory filing.
Currently, AAIL, which is a wholly-owned subsidiary of Malaysia-based AirAsia, holds 49 per cent stake in the Bengaluru-based AirAsia India.
In a regulatory filing to stock exchange Bursa Malaysia, AirAsia said, The board of directors of AirAsia wishes to announce that its wholly-owned subsidiary AAIL and Tata Sons Pvt Ltd, India, on December 29, entered into a share purchase agreement. It added that the pact is for disposing of AAIL s equity interest of 32.67 per cent in AirAsia India to Tata Sons for a total consideration sum
Tata Sons to acquire 32.67 per cent more in AirAsia India for USD 37.66 million
The directors of AirAsia also wishes to announce that AAIL has further agreed to waive off unpaid brand licence fees payable by AAI to AirAsia Berhad.
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MUMBAI: Tata Sons will increase its stake in budget carrier AirAsia India (AAI) to 83.67 per cent by acquiring an additional 32.67 per cent for USD 37.66 million from AirAsia Investment Ltd (AAIL), according to a regulatory filing.
Currently, AAIL, which is a wholly-owned subsidiary of Malaysia-based AirAsia, holds 49 per cent stake in the Bengaluru-based AirAsia India.