Tata Consultancy Services IPO
Tata Consultancy Services IPO — date, price band, lot size & details 2004
Tata Consultancy Services listed on 25 Aug 2004 at ₹1,198.7, 41% above the ₹850 issue price.
Tata Consultancy Services (TCS) is the Tata group's IT services, consulting and business solutions company, headquartered in Mumbai. The TCS Division's total income was Rs 5,939.50 crore in FY2004.
Stock price
Tata Consultancy Services is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 29 Jul 2004
- Close 05 Aug 2004
- Allotment 18 Aug 2004
- Refund/credit TBA
- Listing 25 Aug 2004
Issue summary
The terms of the offer, as filed.
| IPO Dates | 29 Jul to 5 Aug, 2004 |
|---|---|
| Price Band | ₹775 – ₹900 |
| Face Value | ₹1 |
| Lot Size | 7 Shares |
| Issue Size | ₹5420.49 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | NSE, BSE |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 5,950 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 7 shares at the ₹850 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 7 | ₹5,950 |
| Retail (max) | 33 | 231 | ₹1,96,350 |
| S-HNI (min) | 34 | 238 | ₹2,02,300 |
| S-HNI (max) | 168 | 1,176 | ₹9,99,600 |
| B-HNI (min) | 169 | 1,183 | ₹10,05,550 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01Total income rose from Rs 4,165.50 crore in FY2002 to Rs 5,939.50 crore in FY2004.
- 02Profit after tax rose from Rs 1,145.00 crore in FY2002 to Rs 1,597.30 crore in FY2004.
- 03EBITDA rose from Rs 1,451.00 crore in FY2003 to Rs 1,815.30 crore in FY2004.
- 04Net worth rose from Rs 1,190.90 crore in FY2002 to Rs 1,781.60 crore in FY2004.
- 05It became the first Indian IT services organisation with a billion dollars of annual revenue in fiscal 2003.
Risks · 5
- 01International business made up 86.3%, 81.8% and 84.8% of revenues in fiscal 2002, 2003 and 2004, so a stronger rupee or weaker overseas demand hurts.
- 02Profit after tax grew only from Rs 1,145.00 crore in FY2002 to Rs 1,176.40 crore in FY2003.
- 03Its full prospectus is not online; these figures are the TCS Division's unconsolidated results from the 24 July 2004 public announcement.
- 04Rs 3,484.62 crore of the Rs 5,420.49 crore issue went to selling shareholders, mainly Tata Sons.
- 05Tata Sons held 80.95% after the issue with the green shoe option exercised in full, so it controls the company.
Three years of numbers
All figures in ₹ crore, as reported in the Tata Consultancy Services offer document.
| Metric | 31 Mar 2004 | 31 Mar 2003 | 31 Mar 2002 |
|---|---|---|---|
| Assets | 3,136.30 | 2,518.30 | 2,020.30 |
| Total Income | 5,939.50 | 4,997.50 | 4,165.50 |
| Profit After Tax | 1,597.30 | 1,176.40 | 1,145.00 |
| EBITDA | 1,815.30 | 1,451.00 | 1,529.20 |
| NET Worth | 1,781.60 | 1,281.20 | 1,190.90 |
| Total Borrowing | 682.70 | 683.30 | 370.70 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the Tata Consultancy Services RHP.
Where the money goes
₹2,324.95 Cr of the issue is earmarked to named objects.
About the company
It provides IT services, consulting and business solutions to clients in many industries. In fiscal 2003 it became the first Indian IT services organisation with annual revenues of a billion dollars.
It had offices in 31 countries outside India, and international business made up 84.8% of its revenues in fiscal 2004. It bought 51% of CMC Limited from the Government of India in October 2001.
The IPO was Rs 5,420.49 crore, with Rs 1,935.88 crore of fresh issue and Rs 3,484.62 crore of offer for sale by Tata Sons and other shareholders, at Rs 850 within the Rs 775 to Rs 900 band. The figures here are the TCS Division's unconsolidated results from the issue's public announcement filed with SEBI.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Bofa Securities India Limited
64 issues handledBest listing: Tata Technologies (+140.0%). Weakest: Puravankara Projects (-22.5%).
JP Morgan India Pvt. Ltd
41 issues handledBest listing: Premier Energies (+120.0%). Weakest: Nuvoco Vistas Corporation (-14.9%).
JM Morgan Stanley Pvt. Ltd
22 issues handledBest listing: Infrastructure Development Finance Co (+76.5%). Weakest: House of Pearl Fashions (-9.1%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of Tata Consultancy Services?
The current Grey Market Premium is ₹0.
What is the Tata Consultancy Services IPO price band?
₹775 to ₹900, on a face value of ₹1.
When is the allotment?
The basis of allotment is 18 August 2004, with listing on 25 August 2004.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
