TCP Limited was incorporated on 8th June 1971, as a Joint Sector Unit, with the Tamil Nadu Industrial Development Corporation Limited (TIDCO).
In pursuance to the decision of the State Government to disinvest the shares of the Joint Sector Unit held by TIDCO, in favour of private promoters, the shares of the company were disinvested by TIDCO Ltd., in favour of the Udayar Group, with effect from 7th November 1986.