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.