IT major Tata Consultancy Services (TCS) on Friday said one of its promoter has released 1.7 crore pledged shares of the firm.
In a filing to the BSE, TCS said its promoter Tata Sons Ltd released a total of 1,73,50,000 shares of the company on April 8 and April 12.
For the quarter ended December 31, 2012, Tata Sons holds 1,44,34,51,698 shares, or 73.75 per cent stake, in TCS.
Tata Sons, which is the holding company of the over $100 billion salt-to-software conglomerate, is the promoter of the major operating Tata companies and holds significant shareholdings in these firms.
About 66 per cent of the equity capital of Tata Sons is held by philanthropic trusts endowed by members of the Tata family.
It owns the Tata name and several Tata trademarks, which are registered in India and around the world.