Photo: Hemant Mishra/MintMumbai: Tata Sons Ltd on Tuesday sold shares worth nearly Rs9,000 crore in IT major Tata Consultancy Services Ltd, according to NSE data. Tata Sons had on Monday unveiled its plan to sell TCS shares to pay debt, according to a Bloomberg report. Tata sold Tata Teleservices Ltd’s mobile-phone operations to Bharti Airtel Ltd last year and pledged to pay the unit’s obligations. Tata Sons has mandated lenders for a $1.5 billion six-year loan. Tata Sons plans to use the proceeds to repay debt of units Tata Teleservices and Tata Teleservices Maharashtra, a person said then.

Source: Mint March 13, 2018 14:37 UTC