Tata Consultancy Services (TCS), a global IT giant, has announced the acquisition of 100% equity shares in TRIL Bengaluru Real Estate Five Limited and TRIL Bengaluru Real Estate Six Limited, both subsidiaries of Tata Realty and Infrastructure Limited. This strategic move is aimed at bolstering TCS’s infrastructure by acquiring land held by these entities to develop delivery centers.
Key Details of the Acquisition:
- Acquisition Cost: ₹1,625 crore
- Nature of Acquisition: Purchase of Optionally Redeemable Convertible Debentures (ORCDs) and 100% equity shares in the two entities.
- Purpose: To secure land for constructing delivery centers to support TCS’s expanding operations.
- Completion Timeline: Within one year from signing the binding term sheet.
- Entity Background:
- TRIL Bengaluru Real Estate Five Limited was incorporated on June 30, 2023.
- TRIL Bengaluru Real Estate Six Limited was incorporated on July 3, 2023.
- Both entities focus on developing real estate and infrastructure facilities.
TCS Q3FY25 Results: Revenue down 0.4% QoQ to Rs 63,973 crore, Net profit up 4.1% QoQ
This acquisition aligns with TCS’s growth strategy by expanding its physical infrastructure to support long-term business growth. It also reflects the company’s focus on enhancing its capabilities to meet growing client demands in the IT and digital transformation space.
TOPICS:
TCS