TCS mega ESPS at Re 1/share

TCS had earlier decided to seek shareholder approval through postal ballot to offer, issue and allot equity shares not exceeding 18,22,000 under the ESPS to select employees and directors of the company.

The company will also seek members8217; approval to offer, issue and allot 4,55,500 shares to select employees and directors of its subsidiaries. The total number of shares offered under ESPS therefore works out to 22,77,500 shares.

The effective date for qualifying for the ESPS was August 9. Subsidiaries Tata America International Corporation, TCS Asia-Pacific Pte Ltd, TCS Ibero-america SA would be eligible.

The scheme is also broken down into categories depending on experience of the employees.