India's biggest IT firm mulls London float

Silicon.com
India's biggest IT outsourcer Tata Consultancy Services (TCS) is considering plans to float on the London Stock Exchange (LSE), according to reports. TCS is India's biggest IT firm having capitalised on the boom in offshore outsourcing by western multinational organisations and raised $1.17bn when it floated a 13 per cent share of the company on the Bombay Stock Exchange last April. Now the company is reportedly looking at a secondary listing on the Deutsche Borse, the LSE or the US Nasdaq. In an interview with The Telegraph TCS CEO Subramanian Ramadorai hinted that US regulatory requirements such as Sarbanes Oxley would push the company towards a European or UK listing, despite the fact that its Indian rivals Infosys and Wipro chose to float in the US. more...