20 years since listing: TCS gives 77.5% cash returns to investors

As India’s largest information technology (IT) 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 (IPO) 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.”