Tata Sons looks to sell Rs 9,000 crore TCS shares to reduce debt

Tata Sons is aiming to raise around Rs 9,362 crore ($1.1 billion) by selling shares of its lucrative unit Tata Consultancy Services (TCS) on Tuesday. This move is part of Tata Sons' efforts to lower its debt burden. The company is restructuring its balance sheet to avoid mandatory public listing under RBI's 'upper layer' NBFC regulations. These regulations require companies to adhere to strict guidelines, including a mandatory listing within three years of notification.