Mangalore: Tata Consultancy Services Limited (TCS), a part of Tata group is planning to come out with an IPO by offering 55.45 million equity shares of Rupee one each for cash at a premium through a cent per cent book building process, a top company official said.

The indicative price band for the issue has been fixed at Rs 775 and Rs 900 per equity share of rupee one each and prices would aggregate between Rs 4297.57 crore and Rs 4990.73 crore respectively, Rajesh Nambiar, Regional Head, Karnataka, told reporters during TCS' road-show in Mangalore today (July 27, 2004).

The IPO will open on July 29 and close on August five, he said.

Of the 55.45 million equity shares of Rupee one each on offer, the company is making a fresh issue of 22.77 shares and the remaining 32.68 shares are an offer for sale by Tata Sons Ltd (TSL) and other shareholders of the company, Nambiar said.

There will also be a green shoe option of 83.18 equity shares of rupee one each to be offered by TSL aggregating between Rs 644.6 crore and Rs 748.6 crore respectively, he added.