SHAPOORJI PALLONJI MISTRY
Tata Investment, Tata Chemicals shares surge up to 8% after Mistry backs Tata Sons listing push
Shares of select Tata group companies moved sharply higher after Shapoorji Pallonji Mistry backed the case for listing Tata Sons, calling it a "necessary revolution" rather than a regulatory compulsion. Tata Chemicals rose as much as 8%, while Tata Investment Corporation gained around 6%, reflecting renewed investor interest in holding company and group-linked plays.
Tata Sons listing a ‘necessary evolution’, says Shapoorji Pallonji Mistry; seeks RBI clarity
Shapoorji Pallonji Mistry has again urged for Tata Sons to be listed publicly. He believes this move is a necessary step for the group's evolution. A public listing would improve governance, transparency, and accountability. Mistry argues it is in the public interest and would benefit all stakeholders. He stated no evidence shows it would harm Tata Trusts or their beneficiaries.
Venu Srinivasan backs listing of Tata Sons
The Reserve Bank of India is expected to issue a revised circular on upper-layer NBFCs soon. The RBI's scale-based regulation (SBR) framework for NBFCs is under review. Officials have suggested that Tata Sons may not receive the RBI exemption it has sought from the upper-layer classification to avoid listing.
M Pallonji Group gets IRDAI’s R1 nod for general insurance venture
The M Pallonji Group has received R1 approval from IRDAI for its general insurance venture, partnering with Divya Sehgal and Federal Bank. The group will hold a 51% stake, with Federal Bank and family offices providing additional capital. This move signifies a new wave of entrants in the insurance sector.
Shapoorji Pallonji seeks bondholder nod for LTV relief on earlier NCDs
In light of recent geopolitical unrest, the Shapoorji Pallonji Group is reaching out to bondholders for consent to adjust a crucial loan-to-value covenant tied to its rupee notes. This strategic decision to elevate the LTV threshold for a short span of three months seeks to provide the group with much-needed breathing room amidst current market fluctuations.
View: Tata’s fights are going public. Why doesn’t its equity?
Discord at India's Tata Sons is escalating, potentially jeopardizing its $300 billion empire. A family feud over a 18.4% stake held by the Mistry family fuels resistance to a public listing, a move seen as the logical solution. This internal conflict risks impacting major business ventures and the group's esteemed reputation.
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Noel Tata’s tough ask on IPO stalled vote on Chairman tenure
An early agenda item for Tata Sons Pvt.’s six board directors when they convened at 11:30 a.m. on Tuesday at Bombay House the group’s storied headquarters was expected to be straightforward: approving a third term for Natarajan Chandrasekaran as chairman.
SP Group's Rs 25,000 crore bond issue price likely to be lower
Shapoorji Pallonji Group is set to raise approximately ₹25,000 crore through a bond issue. This fundraising effort, planned for early April, is expected to have a lower pricing than previous borrowings. Improved prospects for asset sales and a potential settlement regarding its stake in Tata Sons are boosting investor confidence.
Cyrus Mistry's elder son Firoz joins Afcons board
Firoz Cyrus Mistry, 29, son of the late Tata Sons chairman Cyrus Mistry, has joined Afcons Infrastructure as a non-executive director, marking deeper next-generation involvement in the Shapoorji Pallonji Group’s flagship construction business.
Afcons elevates Shapoorji Mistry as Chairman Emeritus, Krishnamurthy Subramanian as Executive Chairman
This leadership transition at Afcons not only marks a generational shift within the Shapoorji Pallonji Group but also reflects broader trends in corporate succession planning, where family involvement is balanced with professional management.
With Noel Tata at the helm, Mistry's eye potential monetization of Tata Sons stake
Noel Tata’s appointment as chairman of Tata Trusts is likely to ease tensions with Shapoorji Pallonji Group. This could allow SP Group to consider partial monetisation of its 18.4% stake in Tata Sons. Improved relations may help reduce SP Group's debt through asset divestment and other financial strategies, benefiting both sides.
Shapoorji Pallonji denies considering stake sale in Sterling and Wilson Renewable Energy to manage debt
Shapoorji Pallonji & Company (SPCPL) denied considering selling its stake in Sterling and Wilson Renewable Energy (SWRE) to meet financial obligations.
Cyrus Mistry's last rites to be performed at Mumbai's Worli crematorium on Tuesday
Mistry was killed in a road accident near Mumbai on Sunday evening. According to Palghar Police, Mistry was travelling from Ahmedabad to Mumbai when his car hit the divider. There were four people in the car. Two died on the spot, including Mistry, while the other two were shifted to hospital.
Cyrus Mistry: A reclusive scion who fought for honour after being fired by Tatas
A south Mumbai low-profile boy, 44-year-old Mistry family scion was already heading companies in the Shapoorji Pallonji Group when he was appointed to succeed Ratan Tata as the head of the over USD 100 billion, salt-to-software Tata group. According to reports, he was reluctant to take up the job but some persuasion, including by Ratan Tata himself, led him to accept the offer.
Mistrys plan to raise Rs 6,600 crore via debentures in fresh twist to the fight with Tata Sons
The company recently sold its majority stake in Eureka Forbes to private equity firm Advent International for Rs 4,400 crore. Group unit Sterling and Wilson Solar is also looking to take on a partner to pare debt.
Shapoorji Pallonji Group files review petition in SC challenging verdict favouring Tatas against Cyrus Mistry
The SP group had moved National Company Law Tribunal over Mistry’s removal and alleging “oppression” of minority shareholders and “mismanagement”. The SC led by Chief Justice of India, SA Bobde and Justices AS Bopanna and V Ramasubramanian had dismissed the appeals filed by Mistry and Shapoorji Pallonji Group.
Mistry rejected offer to be on board: Tatas
The Tata Group and the SP Group filed appeals and cross appeals in the Supreme Court after the National Company Law Appellate Tribunal in December 2019 ordered reinstatement of Mistry as the chairman of Tata Sons, from where he was ousted in 2016.
Brookfield mulls investment in debt of Mistry’s group
Negotiations are at an early stage and may not lead to any deals.
Mistry group looks to raise up to $1 billion by pledging Tata stake
Shapoorji Pallonji Group is the biggest single shareholder in India’s largest conglomerate.
Next generation of Shapoorji Pallonji Mistry family steps into company's boardroom
Pallon and Tanya’s father Shapoor Mistry along with his brother Cyrus Mistry owns 18.6% stake in Tata group’s holding company Tata Sons.
Tycoon Mistry's asset sales in focus after rating downgrades
The family has already infused at least Rs 650 crore ($91.1 million) into the company.
Mistry family has no right to nominate director: Tata Sons
Tata Sons had abruptly removed Mistry as its Chairman on October 24 and sought his ouster from operating companies like Tata Motors and TCS.
Tata orders to Pallonji drop to zero from Rs 1,124 crore in 3 years
"Current contracts under the execution by the Shapoorji Pallonji Group of companies can, however, continue till completion," said Mistry's letter.
Friends, frenemies, foes: Twists in Tata-Mistry ties
A Tata observer said that the Mistry family's holding in Tata Sons and their presence on the board has often been a matter of discomfort for the Tatas.
Shapoorji Pallonji plans to invest in West Bengal
Shapoorji Pallonji plans to invest in West Bengal in deep-sea port, an IT park, hydro electricity and construction of roads and night shelters for the poor.
Ratan Tata, Cyrus Mistry call on Commerce Minister Anand Sharma
Ratan Tata and Mistry declined to speak to the waiting media at Udyog Bhavan on the agenda of their meeting with Sharma.
Cyrus Mistry's entrepreneurial legacy
Cyrus Mistry, the heir apparent of the Tata empire , has an entrepreneurial legacy going back to the turn of the last century. Very little is known about the Tata Group chairman-designate Cyrus Mistry's family although it is one of India's richest with a net worth of about 38,000 crore.
Cyrus Mistry is mature enough to handle responsibility: KC Mehra, resident director Shapoorji Pallonji Group
KC Mehra , resident director of the Shapoorji Pallonji Group who was with the Tata Group for 41 years before retiring as deputy MD of Tata Steel, says "Being too young is not a problem. Leadership is important and Cyrus, I think, is mature enough to handle this responsibility."
Shapoorji Pallonji recasts group for next generation
These assets include an 18.4% stake in Tata Sons, the main investment arm of the salt-to-steel conglomerate Tata group.
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