The country’s largest software exporter Tata Consultancy Services has said one of its promoters, Tata Sons, has revoked 6.93 crore pledged shares of the company.
After revoking of these shares, Tata Sons has about 9.18 crore pledged shares, accounting for about a 4.69 per cent stake in TCS.
In a disclosure to the Bombay Stock Exchange, TCS said that Tata Sons revoked 6.93 crore shares on July 18.
During the quarter ended June 30, 2011, Tata Sons held a 73.75 per cent stake or 144.34 crore shares in the IT firm, according to data available on the BSE.
Out of the total 195.72 crore outstanding shares of the company, Tata Sons has pledged shares worth a 4.69 per cent stake.
Meanwhile, out of the total 73.75 per cent stake held by Tata Sons, the promoters have 6.36 per cent pledged.
Tata Consultancy Services shares were trading at Rs 1,147.25 on the BSE today, up 0.70 per cent from the previous close.