TCS allots 97.86 crore bonus shares in 1:1 ratio

Tata Consultancy Services, the country's largest software firm said on Thursday that it has allotted over 97.86 crore bonus shares to the investors in the company under the bonus share issue offer.

In a filing with the BSE, TCS said that 97.86 crore shares have been allotted to the shareholders of the company.

The issue of bonus shares had been already approved by the shareholders in the ratio 1:1. The IT major's shares closed at Rs379.75 up 0.20 per cent on the BSE.

Meanwhile the company said that it has opened its third delivery centre in Mexico. TCS plans to hire 500 professionals for its new centre in Mexico according to a company release.

TCS Mexico director, Ankur Prakash said that the new facility would help underpin the accelerated growth that the company wanted to sustain in the country and region by delivering certainty of outcomes to our customers.

The new centre would provide advanced IT services, consultancy, test factory, BPO and a host of other industrial and engineering services.

He added that the company remained committed to Mexico and would continue to invest in developing the skills of IT professionals there.

TCS has a presence in Mexico since 2003 and currently services 30 clients there.