Shares of Indian tech giant Tata Consultancy Services (TCS) have completed 18 years since its IPO today, during which time investors have returned 282.9% on their IPO investment.

To put this into perspective, an investor who invested Rs 85,000 in the IPO to buy 100 shares at an issue price of Rs 850 would see the amount increase from Rs 2,40,500 to Rs 3,25,500.

This does not include bonus shares issued by the company over the years. The company issued 1:1 bonus shares in 2006, 2009 and 2018, which means that the investor’s holding of 100 shares will increase to 800 shares, which will effectively increase the Rs 85,000 invested in the IPO to Rs 26,04,000.

Shares were down 0.32% at Rs 3,245 per share at the time of writing. Year-to-date, the stock is down 13.14%, having lost 11% in the last year, underperforming the Sensex by 17.43%.

TCS was listed on August 25, 2004, at Rs 1,076, a 26% premium to the issue price of Rs 850 per share. The company has set the issue price range at Rs 775-900 per share for an IPO of Rs 4,713 crore.

Known as one of the best dividend payers, TCS has been declaring interim and final dividends over the past few years. For FY22, the company has declared an equity dividend of 4,300%, equivalent to Rs 43 per share, yielding 1.32% at the current share price of Rs 3,255.35.