Shapoorji Pallonji Group wants Tata Sons to go for IPO
Mistry family's Shapoorji Pallonji (SP) Group, which holds an 18.37% stake in Tata Sons, suggested that the Tata Group holding company explore the possibility of an initial public offering (IPO) to unlock value for stakeholders, according to people with knowledge of the matter.
At the Tata Sons annual general meeting (AGM) held on Monday, the SP Group also praised the strong performance of group companies under the leadership of the executive team headed by chairman N Chandrasekaran, suggesting that ties between the two sides may have become less frosty.
This is the second AGM held after Cyrus Mistry, former chairman of Tata Sons, died in a road accident in September 2022. Mistry had been ousted as chairman of Tata Sons in October 2016, souring ties with the SP Group and leading to years of legal battles.
«There are no hostilities between the two sides,» said a person close to the matter. «The SP Group gave constructive feedback as a minority shareholder, given that the performance of Tata Group companies is substantially better in recent years. The listing of Tata Sons will be beneficial for all stakeholders, even the listed companies which have patiently held the shares for over thirty years.»
Tata Sons and the SP Group did not comment.
Stock Trading
Market 101: An Insight into Trendlines and Momentum
By — Rohit Srivastava, Founder
Stock Trading
Markets 102: Mastering Sentiment Indicators for Swing and Positional Trading
By — Rohit Srivastava, Founder
Stock Trading
Market 103: Mastering Trends with RMI and
