The TCS-CMC merger achieved a crucial milestone with the Bombay High Court approving the merger.
The court approval virtually completes the legal formalities involved in the deal.
CMC has around 11,000 employees, while TCS has over 3 lakh. CMC’s results are already consolidated in TCS’ numbers as it is a subsidiary.
CMC shareholders will get 79 equity shares of Re 1 each of TCS for every 100 equity shares of Rs 10 each of CMC as part of the deal.
“The amalgamation will enable TCS to consolidate CMC’s operations in a single company with rationalised structure, enhanced reach, greater financial strength and flexibility,” CMC had said last year.