Tata Consultancy Services (TCS) announced the completion of its transaction with TPG Terabyte, resulting in HyperVault AI Data Center Limited ceasing to be a wholly-owned subsidiary. TPG Terabyte has subscribed to significant equity and preference shares, acquiring a 49% stake on a fully diluted basis as of March 9, 2026. HyperVault, incorporated in late October 2025, reported a net worth of ₹208.38 crores as of December 31, 2025, representing 0.18% of TCS’s consolidated net worth.
Transaction Finalized with TPG Terabyte
Tata Consultancy Services (TCS) confirmed the closure of the investment transaction in HyperVault AI Data Center Limited, originally announced in November 2025. Following the fulfillment of all conditions precedent, TPG Terabyte Bidco Pte. Ltd. successfully subscribed to shares in HyperVault on March 9, 2026.
As a result of this deal, HyperVault AI Data Center Limited is no longer a wholly-owned subsidiary of TCS, effective March 9, 2026. TPG Terabyte now holds a 49% stake in HyperVault based on a fully diluted basis.
Details of HyperVault’s Contribution
HyperVault was incorporated on October 29, 2025. For the period until December 31, 2025, the subsidiary reported the following financial metrics relative to TCS’s consolidated results:
- Turnover: Nil
- Net Worth: ₹208.38 crores
- % of TCS Consolidated Net Worth: 0.18%
Consideration and Share Allotment
The agreement for the sale was initially entered into on November 20, 2025, with the transaction completing on March 9, 2026.
TPG Terabyte subscribed to a total of 2,27,16,275 shares, comprising:
- 2,70,000 Equity Shares (INR 100 each)
- 70,53,530 Class A Compulsory Convertible Preference Shares (INR 100 each)
- 1,26,12,745 Class B Compulsory Convertible Preference Shares (INR 100 each)
HyperVault received an aggregate sum of INR 1,99,36,27,500 (Rupees One Hundred Ninety-Nine Crore Thirty-Six Lakhs Twenty-Seven Thousand and Five Hundred only) from TPG Terabyte on the date of allotment. TCS itself did not directly receive any consideration from this transaction.
Buyer Details
The buyer, TPG Terabyte Bidco Pte. Ltd., is incorporated in Singapore. It is an affiliate of TPG, described as a global alternative asset management firm founded in San Francisco in 1992 with $303 billion of assets under management.
It is confirmed that TPG Terabyte does not belong to the promoter, promoter group, or group companies of TCS, and the transaction is not considered a related party transaction.
Source: BSE
