Tata Consultancy Services has announced a significant corporate restructuring involving its subsidiary HyperVault AI Data Center Limited. The IT services giant disclosed that HyperVault has ceased to be its wholly owned subsidiary following the completion of an investment transaction with TPG Terabyte Bidco Pte. Ltd.

Transaction Completion Details

The transaction was completed on March 9, 2026, with TPG Terabyte acquiring a substantial stake in HyperVault. This development follows the original announcement made on November 20, 2025, when TCS first disclosed entering into Securities Subscription Agreement and Shareholders' Agreement with TPG Terabyte.

Investment Structure and Share Allocation

TPG Terabyte's investment in HyperVault involved subscription to multiple classes of shares, totaling INR 199.36 crores. The investment was structured across different share categories to achieve the 49% ownership stake.

Share Subscription Details:

• 2,70,000 Equity Shares of INR 100 each
• 70,53,530 Class A Compulsory Convertible Preference Shares of INR 100 each
• 1,26,12,745 Class B Compulsory Convertible Preference Shares of INR 100 each

HyperVault received the total consideration of INR 1,99,36,27,500 from TPG Terabyte on March 9, 2026, and allotted the shares accordingly. TCS clarified that it did not directly receive any consideration from this transaction.

HyperVault Financial Profile

HyperVault AI Data Center Limited was incorporated on October 29, 2025, making it a relatively new entity in TCS's portfolio. The company's financial position as of December 31, 2025, reflects its early-stage status.

About TPG Terabyte

TPG Terabyte Bidco Pte. Ltd. is incorporated under Singapore law with its registered office at 83 Clemenceau Avenue, #11-01, UE Square, Singapore 239920. The company is an affiliate of TPG, a leading global alternative asset management firm founded in San Francisco in 1992, managing $303 billion in assets under management.

TCS confirmed that TPG Terabyte does not belong to the promoter, promoter group, or group companies, and the transaction does not constitute a related party transaction. The deal was structured outside any scheme of arrangement and does not involve slump sale provisions.

Regulatory Compliance

The disclosure was made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. TCS has fulfilled all regulatory requirements and made the information available on its official website at www.tcs.com for stakeholder reference.

Tata Consultancy Services has officially launched its seventh Gemini Experience Center at its Innovation Hub in Troy, Michigan, marking a significant expansion in AI-driven manufacturing solutions. The facility, established in partnership with Google Cloud, focuses specifically on developing Physical AI solutions tailored for the manufacturing sector.

Strategic Global Expansion of Gemini Centers

The Troy center represents part of TCS's ambitious global expansion plan. By the end of 2026, TCS and Google Cloud will operate 13 Gemini Experience Centers worldwide, with six additional centers launching this year. The company has already established six GECs in Bangalore, New York, Chennai, Riyadh, Singapore, and Sao Paulo.

Physical AI Blueprint and Manufacturing Applications

The Physical AI GEC for Manufacturing in Troy enables global manufacturers to explore, test, and scale Physical AI use cases for safety, quality, and operational efficiency. The center features the TCS Physical AI Blueprint, an end-to-end framework that integrates AI-powered quadruped and humanoid robotics with advanced sensing, edge intelligence, and secure cloud orchestration.

Leadership Perspectives on Physical AI

Anupam Singhal, President – Manufacturing, TCS, emphasized the transformative potential of Physical AI: "Physical AI is where intelligence moves to the edge—into the real world of operations. With the launch of our Physical AI Gemini Experience Center for Manufacturing, we are enabling manufacturers to extend visibility and decision-making into environments that are difficult, risky, or inefficient for humans to access."

Saurabh Tiwary, VP and General Manager, Cloud AI, Google Cloud, highlighted the partnership's focus: "Our partnership with TCS focuses on accelerating the deployment of agentic AI where it delivers the most significant value to industrial operations. Through the new Physical AI Gemini Experience Center, we are equipping global manufacturers with the intelligence to build more autonomous, resilient, and data-driven enterprises."

Enhanced Partnership with Google Cloud

The Troy center launch aligns with TCS's recent expansion of its relationship with Google Cloud to broaden customer access to Gemini Enterprise. This enhanced partnership enables TCS teams to develop custom agents and seamlessly integrate pre-built Google Cloud agents and third-party agents in Gemini Enterprise, helping customers drive efficiency and innovation across manufacturing operations.