SP Group chairman Shapoorji Pallonji Mistry on Friday reiterated calls for public listing of Tata Sons to bring transparency, amid infighting among trustees of Tata Trusts which controls a 66 per cent stake in the holding company of the salt-to-software conglomerate. Shapoorji Pallonji family is the single largest minority shareholder with about 18.37 per cent in Tata Sons.
Pallon has already joined the boards of some of the unlisted companies such as Afcons
At a time when others are cutting on development of commercial property, plans to add 50% more of IT space.
Construction major Shapoorji Pallonji & Co will set up a real estate fund in the next one year. The fund will focus on investments in the domestic market, according to Shapoor Mistry, chairman of Eureka Forbes, a part of the Shapoorji Pallonji group.
Pegged at $1.8 billion in construction deal size, The London Resort, which is located 17 minutes outside London, has attracted bids from three other construction majors from across the world.
If Tata Sons is listed, the special veto rights of Tata Trusts, under Article 121A, may have to go away.
Afcons, a Shapoorji Pallonji group company, is planning to raise around Rs 300 crore (Rs 3 billion) through an initial public offering.
The Tata Sons board has deferred a decision on the re-appointment of Natarajan Chandrasekaran as Chairman, signaling potential differences within the group. Concerns were raised about losses in certain group companies and the listing of Tata Sons.
Tata Sons, now debt-free, has asked the RBI to drop its 'upper-layer NBFC' tag and allow it to stay private.
Seven listed Tata companies together own 12.1 per cent in Tata Sons with a combined book value worth around Rs 30,700 crore.
In the decade and a half he has been at the helm of the Rs 9,000-crore group (Rs 90-billion), Mistry has helped it build an impressive portfolio.
Clarity on Tata Sons' position on listing, as of 2025, would help define the future of the group better, irrespective of the RBI stand. As of now, the ball is in the RBI's court, and everyone is watching the space, points out Nivedita Mookerji.
Mehli Mistry is backed by three other trustees -- Pramit Jhaveri, Darius Khambata and Jehangir HC Jehangir -- against Tata Trusts Chairman Noel Tata and the two vice-chairmen, Venu Srinivasan and Vijay Singh.
According to property experts, this is the biggest plan by any developer at the moment.
Top honchos of the Tata group, including Tata Trusts Chairman Noel Tata and Tata Sons Chairman N Chandrasekaran, on Tuesday met Union Home Minister Amit Shah and Finance Minister Nirmala Sitharaman amid infighting among trustees over board appointments and governance issues.
Mistry indeed followed standards of corporate governance so that it should not create any controversies at a later date
Interest in green living is rising, with clean air and open spaces becoming key selling points for residential projects, particularly as Indian cities struggle with deteriorating air quality.
Shapoorji Pallonji Group's head Pallonji Mistry died at his residence here, company officials said on Tuesday. Mistry, the largest individual shareholder in the Tata Group with a 18.4 per cent holding in the conglomerate, was 93.
Lock up on shares worth nearly Rs 1.2 trillion ($14 billion) belonging to 50 companies will end between now and January 31, said Nuvama Institutional Equities in a note. Most of the shares are held by promoters, strategic investors or pre-listing shareholders in companies that have gone public in recent weeks or months.
Between Kotak, Shapoorji and HDFC, fund managers have raised $700 million from investors
Adani Ports and Special Economic Zone Ltd (APSEZ) on Tuesday announced the acquisition of a 95 per cent stake in Gopalpur Ports in Odisha from Shapoorji Pallonji Group and Orissa Stevedores Ltd at an equity value of Rs 1,349 crore. In Gopalpur Ports, Shapoorji Pallonji Group (SP Group) firm SP Port Maintenance Pvt Ltd has a 56 per cent stake and Orissa Stevedores Ltd (OSL) has a 44 per cent stake. Gopalpur Port is an all-weather deep-water berthing port with a capacity of 20 million tonnes per annum (MTPA) situated in Ganjam district of Odisha.
The Tata Trusts, led by the Sir Ratan Tata Trust and the Sir Dorabji Tata Trust, hold a 66 per cent stake in Tata Sons, the Tata group's holding company.
The Supreme Court on Thursday dismissed a plea of the Sapoorji Pallonji (SP) group seeking a review of the 2021 verdict which had upheld the Tata group's decision to remove Cyrus Mistry as the executive chairman of the Tata Sons. A bench headed by Chief Justice N V Ramana, however, ordered the deletion of certain remarks made against Cyrus Mistry in the March 2021 verdict. Senior advocate Harish Salve, appearing for the Tata group, said the court may permit the deletion of one or a few sentences not for the reasons given in the application of the Sapoorji Pallonji (SP) group.
In a major victory for the Tata Group, the Supreme Court on Friday set aside the NCLAT order restoring Cyrus Mistry as the executive chairman of the conglomerate.
India's leading conglomerates are stepping up investments in real estate, recasting what was once a peripheral activity into a core growth driver. Supported by strong balance sheets, established brands and access to long-term capital, major business houses including Aditya Birla, Tata, Godrej, L&T, Raymond, Wadia, Shapoorji Pallonji, Mahindra and Adani are positioning realty as a strategic pillar within their diversified portfolios.
After months of discord, the Tata Trusts appear to be moving towards reconciliation, with recent reappointments and open exchanges signalling a return to cooperative governance.
A naturally reclusive nature and a conviction for the work to do the talking meant there was very little known about Mistry even during his time at the helm of Tata Sons. He did not do a single media interview from Bombay House.
Top ten billionaires in India.
A quiet but consequential power struggle has erupted within the storied 156-year-old Tata Trusts just a year after the death of group patriarch Ratan Tata on October 9, 2024.
Ten billionaires including Mukesh Ambani, Sunil Mittal are in the world's richest list.
Mistry is presently also the chairman of loss-making Forbes & Company Ltd listed on the Bombay Stock Exchange.
Tata Trusts, which exerts decisive influence over India's most valuable conglomerate through its about 66 per cent stake of Tata Sons, finds itself in the midst of infighting among its trustees over board appointment and governance issues.
Will it be Noel Tata, Ratan Tata's half brother?
With a net worth of $12.6 billion, Mistry is well known for constructing some of Mumbai's landmarks such as the Reserve Bank of India headquarters, The Taj Mahal Palace and Towers, and the Oberoi Hotels
So far the tallest tower being built by Shapoorji Pallonji group in Mumbai is about 80-storied tall.
UK-based premium menswear brand The Savile Row's ambitious India plans might prompt its Indian partner Forbes Gokak to reconsider the Indian strategy for another premium menswear brand, Daks London.
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