Tata Communications has successfully completed the divestment of its wholly owned subsidiary, Tata Communications Payment Solutions (TCPSL) to Findi’s majority-owned subsidiary Transaction Solutions International (India) (TSI). This move aligns with company’s strategic focus on high-growth areas such as network, cloud, cybersecurity, IoT, interactions, and media services, enabling the company to sharpen its core capabilities while unlocking greater value.
On November 13, 2024, Tata Communications had entered into a definitive agreement with TSI, to divest its 100% equity stake in TCPSL. The transaction has now been completed following the receipt of regulatory approval from the Reserve Bank of India (RBI), and the fulfilment of all conditions agreed between the parties under the relevant definitive agreement.
Tata Communications provides a range of services that includes transmission, IP, converged voice, mobility, managed network connectivity, hosting and storage, managed security, managed collaboration and business transformation for global enterprises and service providers, as well as Internet, retail broadband and content services for Indian consumers.
| Company Name | CMP |
|---|---|
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| Vodafone Idea | 9.65 |
| Indus Towers | 414.30 |
| Tata Communications | 1563.65 |
| Bharti Hexacom Ltd. | 1540.85 |
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