Tata Group takes the block trade route to raise $125 million

Tata Group, one of the largest conglomerates of the country, has raised $125 million by selling 10.34 million shares of Tata Consultancy Services (TCS) at Rs 615 per share through a block trade deal. Citigroup acted as the sole bookrunner for the deal.

Block trades and share placement deals have become favorites for raising money among many corportes to take the advantage of current extended rally.