TCS, India's largest information technology (IT) services company, celebrated its 20th anniversary on Sunday, with Managing Director and Chief Executive Officer K Krithivasan stating that the company remains equally committed on developing a better future. TCS created history in 2004 by being India's first private-sector corporation to raise $1 billion through an initial public offering (IPO).
Tata Sons diluted 14% of its stock 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," he said on LinkedIn.
Over the past two decades, TCS has announced five buybacks and three bonus issues, returning 77.5 percent of its total cash to shareholders. The company's market capitalization (mcap) has risen by more than 3,300 percent. Samir Seksaria, TCS's chief financial officer, who was also a member of the team that worked on the IPO in 2004, reminisced on the experience in a LinkedIn post.
"The route to our IPO demonstrated TCS's strength... The IPO was oversubscribed several times over on the first day, indicating strong investor confidence not only in TCS but also in India's future as a technological powerhouse."
"As we look to the future, I am just as optimistic as I was in 2004. "The world is changing at an unprecedented rate, and TCS is well-positioned to lead in this new era of digital transformation," Seksaria stated. The IPO price band was set at Rs 775–900. On Friday, August 23, TCS stock closed at Rs 4,464 per share. TCS's market capitalization surpassed $100 billion in 2018, 13.5 years after its IPO. It took just four more years to quadruple its market capitalization to $200 billion.
TCS has grown across all segments and established trends in a variety of areas during the last two decades. Its workforce increased from 33,774 in FY04 to a whopping 606,998 as of June 30, 2024. TCS has a presence in 32 countries and ten delivery centers when it went public. The organization now operates in 55 countries, with more than 300 offices and 200 delivery centers.
