---
endpoint: analytics
pattern: Technology
status: done
latency_ms: 109113
conversation_id: 5bc9366e-2530-47e7-9b00-357e6efd4aed
citations: 5
created: 2026-05-31 21:02:19Z
---

# Who are the key shareholders of Tata Consultancy?

## Tata Consultancy Services (TCS, NSE: TCS / BSE: 532540) — Key Shareholders

TCS is a tightly held promoter-controlled company within the Tata Group. The shareholder register is dominated by **Tata Sons Private Limited**, with the remaining ~28% float distributed across Indian institutions (LIC + domestic mutual funds), Foreign Portfolio Investors, and retail.

### 1. Promoter Group — ~71.77% of capital

The "Tata Group" controls TCS through Tata Sons and four affiliated holding entities (FY25 standalone disclosures, as of 31 March 2025) [2][4]:

| Promoter / Promoter Group Entity | Equity Shares | % Holding |
|---|---|---|
| **Tata Sons Private Limited** (the holding company) | 2,59,54,99,419 | **71.74%** [2] |
| Tata Industries Limited | 7,220 | <0.01% [4] |
| Tata Investment Corporation Limited | 10,04,425 | ~0.03% [4] |
| Tata Steel Limited | 46,798 | ~0.01% [4] |
| The Tata Power Company Limited | 766 | <0.01% [4] |
| **Total Promoter & Promoter Group** | **2,59,65,58,628** | **71.77%** [1] |

The promoter holding has remained stable at the **71.74% level for Tata Sons through to the latest interim filing dated 30 September 2025** (no change from FY25) [3].

### 2. Public Shareholding — ~28.23%

Categorical breakdown of the public float as at 31 March 2025 [1]:

| Category | Equity Shares | % Holding |
|---|---|---|
| Foreign Portfolio Investors (FPI) | 43,55,39,425 | **12.04%** |
| Insurance Companies | 20,80,60,106 | **5.75%** |
| Mutual Funds (Domestic) | 18,09,58,598 | **5.00%** |
| Resident Individuals (retail) | 14,65,21,498 | 4.05% |
| Others | 5,04,49,263 | 1.39% |
| **Total Public Float** | **1,02,15,28,890** | **28.23%** |

Total paid-up equity = **361,80,87,518** shares [1].

### 3. Top 10 Shareholders (as of 31 March 2025) [1]

| Rank | Shareholder | Shares | % |
|---|---|---|---|
| 1 | **Tata Sons Private Limited** (Promoter) | 2,59,54,99,419 | **71.74%** |
| 2 | **Life Insurance Corporation of India (LIC)** | 16,76,58,326 | **4.63%** |
| 3 | SBI Mutual Fund | 4,94,86,227 | 1.37% |
| 4 | National Pension Scheme (NPS) Trust Account | 2,16,76,094 | 0.60% |
| 5 | ICICI Prudential Mutual Fund | 2,15,92,593 | 0.60% |
| 6 | HDFC Mutual Fund | 1,77,68,901 | 0.49% |
| 7 | UTI Mutual Fund | 1,47,03,072 | 0.41% |
| 8 | Vanguard Total International Stock Index Fund | 1,46,36,297 | 0.40% |
| 9 | Vanguard Emerging Markets Stock Index Fund | 1,32,09,155 | 0.37% |
| 10 | Nippon Life India Trustee Ltd Mutual Fund | 1,27,02,850 | 0.35% |

### 4. Key Takeaways

- **Single dominant shareholder**: Tata Sons Private Limited owns **71.74%** of TCS, making it effectively a controlled subsidiary of the Tata Group holding company. This stake has been gradually reduced over time (was 72.0% in FY20, 72.2% in FY21, 72.3% in FY22, 72.27% in FY23, then trimmed to 71.74% in FY24 and held flat through FY25 and the 30-Sep-2025 interim) [3].
- **Largest non-promoter holder**: Life Insurance Corporation of India (LIC) is by a wide margin the largest non-promoter shareholder at **4.63%** [1] — TCS is one of LIC's largest single equity positions in its India portfolio.
- **Foreign Portfolio Investors** collectively own ~12.04% — Vanguard's index funds (Total International + Emerging Markets) and Government of Singapore have historically been the largest single FPI holders [1].
- **Chairman link**: TCS Chairman **N Chandrasekaran** is also Chairman of Tata Sons (the holding company and promoter of more than 100 Tata operating companies with aggregate annual revenues of more than US$150 billion) [5] — reinforcing the promoter-group governance linkage.
- **Internal research note (CLSA)**: I did not locate a CLSA note specifically focused on TCS's shareholder pattern; CLSA coverage of TCS (e.g., "India IT 1QFY26 Commentary preview", "India IT Accenture 3Q25 read-across", "India Gen AI Access Day Summary") focuses on operational/IT services thesis rather than register composition. The shareholder data above is sourced directly from TCS's own statutory disclosures (FY25 Annual Report and the standalone/consolidated financial statements for the half-year ended 30-Sep-2025).

---

**Sources**
[1] Tata Consultancy Services Limited — FY25 Annual Report (Corporate Governance Report — Categories of equity shareholding & Top 10 shareholders, as at 31 March 2025)
[2] Tata Consultancy Services Limited — FY25 Annual Report (Consolidated Financial Statements, Note on Share Capital — Shareholders holding more than 5%)
[3] Tata Consultancy Services Ltd. — Interim Report for period ended 30-Sep-2025 (Consolidated Notes — Shares held by Holding Company)
[4] Tata Consultancy Services Limited — FY25 Annual Report (Standalone Financial Statements, Note on Share Capital — Shares held by Holding company, its Subsidiaries and Associates)
[5] Tata Consultancy Services Limited — Annual Report FY24 (Notice of AGM — Director Profile: N Chandrasekaran)

## Citations

- [1] **Tata Consultancy Services Limited annual_report 2025-05-28** · external
- [2] **Tata Consultancy Services Limited annual_report 2025-05-28** · external
- [3] **Tata Consultancy Services Ltd. (532540-IN) - Interim Report for period end 30-Sep-2025 (English) - PDF** · external
- [4] **Tata Consultancy Services Limited annual_report 2025-05-28** · external
- [5] **Annual Report 23/24** · external

