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.
At a time when others are cutting on development of commercial property, plans to add 50% more of IT space.
The foundation of the seat of government and presidential complex will be laid by John Agyekum Kufuor, president of Ghana, in the presence of Anand Sharma, Indian minister of state for external affairs, on Friday in the Republic of Ghana.
Pallon has already joined the boards of some of the unlisted companies such as Afcons
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.
Chandrasekaran's exit is more than a change of chairman. It represents the breakdown of the informal consensus that governed the Tata system under Ratan Tata.
'... that work is done. The task is to reallocate what has been built, with the courage of a founder and the discipline of an owner.'
Just in case the AGM, scheduled At the AGM, if it is held, a shareholders' vote on Chandra's renewal as a director on the Tata Sons board is unlikely but not ruled out.
Natarajan Chandrasekaran, credited with stabilising Tata Sons after a boardroom coup and overseeing significant expansion, has announced his resignation as chairman, capping a nearly decade-long tenure marked by both successes and escalating tensions with the group's controlling charitable trusts.
If Tata Sons is listed, the special veto rights of Tata Trusts, under Article 121A, may have to go away.
The Annual General Meeting (AGM) of Tata Sons, scheduled for Tuesday, is likely to be adjourned because the Sir Ratan Tata Trust (SRTT), a major shareholder, cannot nominate a representative due to a regulatory restriction imposed by Maharashtra's Charity Commissioner.
N Chandrasekaran will step down as chairman of Tata Sons in February 2027, concluding a decade at the helm, following a prolonged standoff over his reappointment with Tata Trusts Chairman Noel Tata.
Afcons, a Shapoorji Pallonji group company, is planning to raise around Rs 300 crore (Rs 3 billion) through an initial public offering.
While the latest trigger for him stepping down could be the uncertainty around his renewal as a director at the AGM, which is otherwise a routine matter, Chandra may have been contemplating quitting for some time now because of the overall turbulence with the principal shareholder on the leadership issue.
N Chandrasekaran, chairman of Tata Sons, announced he would not seek reappointment when his term ends in February 2027, following a series of departures by senior figures closely associated with former chairman Ratan Tata, including Vijay Singh and Mehli Mistry, amid a deepening power struggle and governance dispute within the Tata Group.
N Chandrasekaran's decision not to seek reappointment when his term as chairman of Tata Sons ends in February 2027 signals a significant shift in leadership amidst an ongoing power struggle and governance disputes within the Tata Group.
Seven listed Tata companies together own 12.1 per cent in Tata Sons with a combined book value worth around Rs 30,700 crore.
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.
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.
According to property experts, this is the biggest plan by any developer at the moment.
Tata Sons, now debt-free, has asked the RBI to drop its 'upper-layer NBFC' tag and allow it to stay private.
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.
The much-awaited board meeting of Tata Sons did not discuss listing of the holding company or a third term for Chairman N Chandrasekaran.
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.
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.
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.
The upcoming Tata Sons board meeting in June could possibly throw some light on several critical issues that may have a bearing on the future of the corporate behemoth.
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.
Between Kotak, Shapoorji and HDFC, fund managers have raised $700 million from investors
Mistry indeed followed standards of corporate governance so that it should not create any controversies at a later date
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.
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.
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.
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.
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.
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.
