TCS’s mcap crossed $100 billion in 2018, 13.5 years after the IPO.
It took only four more years to double its mcap to $200 billion.
IMAGE: Tata Consultancy Services CEO K Krithivasan announces TCS’ quarterly results in Mumbai, January 11, 2024. Photograph: Francis Mascarenhas/Reuters
As India’s largest information technology services company, TCS, on Sunday marked 20 years of its listing, its Managing Director and Chief Executive Officer K Krithivasan said the firm would remain equally focused on building a stronger future.
In 2004, TCS made history with the first $1 billion initial public offering by a private-sector company in India. Tata Sons diluted 14 per cent of its equity shares.
“In these two dynamic decades, we have helped our clients navigate many technology cycles, reshaped the global IT industry, built rewarding long-term careers for our colleagues, and created wealth for our investors,” said Krithivasan in a LinkedIn post.
Over these two decades, TCS has announced five buybacks and three bonus issues, returning 77.5 per cent of its total cash to shareholders.
The company’s market capitalisation (mcap) has surged by over 3,300 per cent.
Samir Seksaria, chief financial officer of TCS, who was also part of the team that worked on the IPO in 2004, reflected on the journey in a LinkedIn post.
‘The journey to our IPO showcased the strength of TCS… The IPO was oversubscribed several times over on the very first day, signaling robust investor confidence not only in TCS but also in the future of India as a technology powerhouse.’
‘As we look to the future, I remain as optimistic as I was in 2004. The world is evolving at an unprecedented pace, and TCS is well-positioned to lead in this new era of digital transformation,’ Seksaria said.
The IPO price band was set between Rs 775 and Rs 900. On Friday, August 23, TCS shares closed at Rs 4,464 per share.
TCS’s mcap crossed $100 billion in 2018, 13.5 years after the IPO. It took only four more years to double its mcap to $200 billion.
In the past 20 years, TCS has expanded across all segments and set trends in several areas.
Its headcount grew from 33,774 in FY04 to a staggering 606,998 as of June 30, 2024.
At the time of its IPO, TCS had a presence in 32 countries and delivery centres in 10.
Today, the company operates in 55 countries, with over 300 offices and more than 200 delivery centres.
Feature Presentation: Ashish Narsale/Rediff.com
