• Investment World
• eWorld
• Catalyst
• Mentor
• Life
• Canvas
• Praxis
• Urban Pulse
• Brand Quest

Stocks

• Quotes
• SE Diary
• Scoreboard
• Open-End Mutual Fund

Cross Currency

• Rates
  
  

Shipping

• Ports
  
  

Archives

• Yesterday
• Datewise
• Resources

Group Sites

• The Hindu
• Business Line
• Sportstar
• Frontline
• The Hindu eBooks
• The Hindu Images

Our Bureau

Mumbai , Sept. 22

JM Morgan Stanley, the stabilisation agent for Tata Consultancy Services (TCS) IPO, today exercised the green shoe option in full for 83,17,880 shares, aggregating Rs 707 crore.

Various Tata group companies had acted as lender to the green shoe option and since the stock price of TCS shares did not fall below the offer price of Rs 850, JM Morgan Stanley on Wednesday exercised the green shoe option in full.

Following the exercising of this option these shares will be returned to the various Tata group companies which had lent the shares.

At the time of TCS IPO, JM Morgan Stanley acted as stabilisation agent wherein the merchant banker could have bought the shares of the company if the shares of TCS fall below the offer price.

More Stories on : Foreign Institutional Investors | Software

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Fidelity gets nod to launch MF operations

Copyright © 2004, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line