To mark the memory, its chief executive officer (CEO) K Krithivasan said in a post on professional networking platform LinkedIn: “Today marks 20 years since TCS went public with its IPO in 2004. In these two dynamic decades, we have helped our clients navigate many technology cycles, transformed the global IT industry, built long-term, rewarding careers for our colleagues, and created wealth for our investors.”
“I would like to express my sincere gratitude to all my colleagues at TCS, all our customers and partners, who have accompanied us on this extraordinary journey. While we look back with great pride at all we have achieved together, we remain equally focused on building a stronger future,” he added, posting a photo of a newspaper advertisement with the details of the opening of the offer.
The listing of the Tata group subsidiary took place on August 25, 2004, and TCS shares were trading at a premium of over 26.6% at Rs 1,076 apiece on the Boston Stock Exchange. On Friday, August 23, the stock closed at Rs 4,464, up over 300% since the listing.
TCS has returned 77.5% of the cash generated to the shareholders Since its listing, it has issued bonus shares three times and has exercised the repurchase five times.
In 2004, the first billion-dollar IPO in India’s history, TCS’ listing was hailed as groundbreaking as Tata Sons diluted its stake by offering 14% equity shares in TCS.
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In FY24, the payout to TCS shareholders was Rs 47,445 crore, the highest payout ever. The average payout to shareholders has also been over 100% for the past 5 years. “The road to our IPO showcased the strength of TCS. At that time, TCS created history… with the largest IPO by a private sector company. The IPO was oversubscribed several times on the first day, indicating strong investor confidence not just in TCS but also in India’s future as a technology powerhouse,” TCS CFO Samir Seksaria said on LinkedIn.
Just before its IPO in 2003, TCS’s revenues reached $1 billion, making it the first Indian IT services organization to generate that amount in annual revenue.
In 20 years, TCS’s net profit grew more than 15 times while revenue grew at a CAGR of 15.8% in dollar terms.
With five CEOs in its 56-year history, the Mumbai-based firm has grown nearly 20-fold in annual revenue to $29.1 billion, with industry-leading operating margins and profitability. One of India’s most valuable companies, its current capital is $2 billion. market capitalization It has reached 200 billion dollars.
More than a week ago, the IT leader also organized a meeting with a select group of analysts that also commemorated the 20th anniversary of its listing and showcased the company’s technological prowess.
This year, in its first quarter results ended June, TCS reported a sequential decline of 3.1% but 8.7% year-on-year growth in profit and revenue, up 5.4% from last year and up 2.2% sequentially across all verticals, excluding telecom. It ended June with net hiring at a seven-quarter high, indicating signs of recovery for FY25.
The firm’s global presence has expanded to 55 countries with over 300 offices and over 200 delivery centers, and a workforce of over 600,000 consultants of 152 nationalities today.
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