FIRSTCRY IPO RATAN TATA
Jio IPO SWOT analysis: What the DRHP says about its growth story, moats and risks
Jio Platforms is gearing up for a landmark public offering to secure Rs 37,700 crore in funds, with subscriptions expected to commence on October 21. With an impressive customer base exceeding 524 million, Jio dominates India's wireless data landscape. The company is well-positioned to capitalize on opportunities like the shift from 2G to 4G and expanding enterprise connectivity.
Tata Sons mulling legal view on Trusts offer, not seen as a Trusts resolution to be considered
Tata Sons board has not yet formally met to consider the restructuring proposal from Tata Trusts. The proposal aims to avoid the mandatory listing of Tata Sons required by the Reserve Bank of India. Legal opinions on the proposal's validity are being sought by the board as it assesses its options. Tata Trusts, as majority shareholders, suggested the restructuring to ensure compliance with regulatory requirements.
Seven Tata Trusts file slew of caveats with Maharashtra Charity Chief
Seven trusts under Tata Trusts have filed caveats to be heard ahead of any orders by the Maharashtra Charity Commissioner. Venu Srinivasan and Vijay Singh have raised concerns about governance issues surrounding Noel Tata's leadership. These issues include questions regarding decision-making and participation restrictions in Tata Sons matters. The filings follow existing restrictions on the Sir Ratan Tata Trust's functioning and meetings.
Swara Baby gets Sebi nod for Rs 1,000 crore IPO as hygiene products maker eyes expansion
Swara Baby Products has received approval from Sebi to proceed with its Rs 1,000 crore IPO. The IPO includes a fresh issue of equity shares and an offer for sale by promoters. Proceeds will be used for expanding a manufacturing facility and repaying borrowings among other corporate purposes. Founded in 2018, Swara Baby manufactures a range of disposable hygiene products for different consumer needs.
Tata Trusts rift deepens: Noel Tata-led trustees say 'Trusts do not run Tata Sons' as they defend restructuring plan to avoid listing
Trustees of Tata Trusts have rebuffed objections from two senior trustees concerning a proposed restructuring of Tata Sons. They emphasized that the Reserve Bank of India has not required a listing for Tata Sons. Additionally, they asserted that the restructuring does not jeopardize the charitable status of the trusts. The trustees referenced past resolutions in support of preserving Tata Sons' unlisted status.
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IPO-bound Razorpay partners with OpenAI to help Indian brands advertise on ChatGPT
Under the partnership, Razorpay Engage, the company's customer engagement and marketing platform, will help brands prepare product catalogues, structure feeds, launch campaigns and track their performance on ChatGPT Ads.
Listed startups unlock Rs 25,000 crore for VC, PE investors
An ET analysis of National Stock Exchange (NSE) and BSE block and bulk deal disclosures across 18 new-age companies shows sales by investors including Japan’s SoftBank group and venture capital firms Peak XV Partners, Elevation Capital and Accel.
Tata Trusts vice chairmen Vijay Singh, Venu Srinivasan inform trustees in letter they weren’t consulted on Tata Sons reorganisation
A fresh rift has emerged within Tata Trusts over Tata Sons’ proposed reorganisation, with Sir Dorabji Tata Trust vice chairmen Venu Srinivasan and Vijay Singh saying they were not consulted before a letter supporting the plan was sent to Tata Sons. The trustees questioned the process, governance implications and whether the communication represented the collective position of the trust.
Tata Trusts seeks hearing on Venu Srinivasan's complaint before charity commissioner
Tata Trusts has sought a hearing with the Maharashtra charity commissioner in response to a complaint lodged by Venu Srinivasan. This complaint claims there have been governance issues within the Sir Dorabji Tata Trust's management, particularly concerning the conduct of specific trustees. Srinivasan has urged the commissioner to investigate potential repercussions for those trustees involved.
ET Exclusive: Venu Srinivasan seeks probe into Tata Trusts over alleged governance lapses
Venu Srinivasan, trustee of Sir Dorabji Tata Trust and Sir Ratan Tata Trust, has sought an immediate inquiry into SDTT’s governance, alleging serious lapses and excessive involvement in Tata Sons’ commercial affairs. He has also challenged Noel Tata’s role in trust decisions and sought restrictions on his voting and trustee powers.
Change in Tata structure could affect rating, says S&P
The leadership transition or changes in the group structure or stakeholder priorities may raise questions around the continuity of the group's strategy and financial policy, and the likelihood of group support over the longer term, the rating agency said.
Tata Sons listing, leadership transition may reshape group's long-term financial strategy: S&P
S&P Global said a potential Tata Sons leadership transition or listing would not immediately affect group company ratings, with financial policy changes likely to be gradual. The agency said a listing would be credit-neutral near term, though greater scrutiny of capital allocation, shareholder returns and support for weaker group companies could affect its longer-term assessment.
India’s IPO pipeline swells despite muted equity market
India's primary market is thriving with a significant increase in the number of IPOs and issue amounts. In contrast, the secondary market has experienced notable declines in equity indices. While foreign investor interest in listed stocks has dwindled, they remain active in the IPO space. Several leading companies have successfully gone public, contributing to the primary market's resilience.
Tata Trusts pitch Tata Sons restructuring as alternative to listing
Tata Trusts have proposed merging Tata Electronics Systems Solutions and Tata Consulting Engineers with Tata Sons to alter its regulatory classification and preserve its unlisted private status. The Trusts said the restructuring would increase operating revenue and reduce investments in group companies, potentially taking Tata Sons outside the NBFC and CIC frameworks.
Tata companies face a tough call on Chandra vote at AGM
Tata Group companies are preparing for the upcoming AGM concerning N Chandrasekaran's reappointment as a director. These companies, including Tata Motors and Tata Steel, own a significant stake in Tata Sons. Noel Tata has expressed opposition to Chandrasekaran's reappointment, complicating the voting decision for affiliated companies. The resolution for Chandrasekaran's reappointment indicates the evolving dynamics within Tata Sons.
Mehli Mistry steps down as trustee of Tata Medical Centre Trust, declines re-election
Mehli K Mistry has decided not to seek re-election as a trustee of the Tata Medical Centre Trust. His current term is set to end on September 30, 2026, marking a significant transition. Mistry previously stepped down from various key Tata trusts and companies amid structural changes. He emphasized the importance of transparency and good governance, adhering to Ratan Tata's vision.
Tata dispute sends India Inc scrambling to shore up shareholder rights
A boardroom dispute at Tata Sons is prompting founders, strategic investors and private equity firms across India to review shareholder agreements and governance clauses, lawyers and directors said. The concern is whether a company board can override a majority shareholder on key decisions.
Tata Sons boardroom battle intensifies but Tata Group stocks remain unbothered. Should you buy?
Tata Sons has rejected Noel Tata’s objections to N Chandrasekaran’s reappointment, saying the board’s decision was valid and made in accordance with the company’s Articles of Association.
Tata Sons tells Noel Tata, Chandrasekaran’s reappointment is valid, rejecting his objections
Tata Sons has affirmed the validity of N Chandrasekaran's reappointment as chairman following a board majority resolution. Noel Tata raised objections regarding the adherence to the Articles of Association for this reappointment. However, Tata Sons clarified that the special process outlined applies only for a new chairman's first appointment. The company also addressed issues surrounding a recently adjourned annual general meeting and its quorum requirements.
Tata Chemicals, Tata Investment Corp shares fall up to 3% as boardroom battle likely to reach court
The dispute between Tata Trusts and Tata Sons over N Chandrasekaran’s reappointment escalated, with the matter potentially heading to court. Tata Sons recently approved a fresh five-year extension for Chandrasekaran and began preparations for its IPO, triggering sharp moves in group stocks. However, shares fell on Friday after Tata Trusts chairman Noel Tata challenged the validity of the appointment, objecting to the manner in which the decision was taken.
Tata Sons listing row puts individual Tata Trusts trustees under sharper focus
Tata Sons and Tata Trusts are facing significant tensions as they prepare for the upcoming annual general meeting. The Reserve Bank of India's directive has exacerbated governance and influence issues within the trusts. Individual trustees are now under increased scrutiny as their positions become crucial in ongoing debates. Key figures like Noel Tata and Venu Srinivasan are taking opposing sides on important issues.
Tata Sons plans AGM within a month, may approach NCLT if SRTT freeze blocks quorum
Tata Sons intends to organize its annual general meeting following a previous deferral due to quorum issues. The company is considering legal action to bypass quorum requirements in light of ongoing restrictions on Sir Ratan Tata Trust. N Chandrasekaran’s reappointment as a director will be on the agenda despite possible conflicts within the board. The National Company Law Tribunal may be approached for assistance in conducting the meeting.
Five pivotal figures shaping the battle for $185 billion Tata Group
A widening power struggle at Tata Group has brought several lesser-known figures into focus, from TVS veteran Venu Srinivasan and SP Group’s Shapoor Mistry to Maharashtra Charity Commissioner Amogh Kaloti. Their roles could prove decisive as the battle over N Chandrasekaran’s tenure, Tata Sons’ possible listing and the influence of Tata Trusts moves beyond the boardroom.
Tata Group stocks see sharp swings as boardroom battle intensifies, but analysts say avoid the noise
Tata Group stocks are undergoing substantial fluctuations amid an unsettling boardroom conflict as Tata Trusts questions the reappointment of N Chandrasekaran as Chairman. Market analysts advise investors to hone in on the core fundamentals and disregard the temporary corporate commotion. Companies like Tata Steel and Tata Motors are highlighted as sound investment choices, showing promise for long-term growth and accumulation due to their solid performance.
Tata Sons IPO may spotlight some low-key crorepatis
The Reserve Bank of India has rejected Tata Sons’ application to surrender its core investment company registration and remain outside the regulatory framework applicable to upper-layer non-banking finance companies. The decision effectively requires Tata Sons to comply with the applicable regulations, including the requirement to list.
Tata Sons IPO: Why Tata Chemicals may be the biggest beneficiary although Tata Motors, Tata Steel own bigger stake
Tata Sons’ potential IPO and internal governance dispute are driving volatility across Tata Group stocks, with Tata Chemicals seeing the sharpest moves. Its 2.5% Tata Sons stake is worth about Rs 30,052 crore, exceeding its market capitalization. Investors expect significant value unlocking, while Tata Trusts’ opposition to Chandrasekaran’s reappointment adds uncertainty around the IPO.
Tata Trusts says it has not agreed to the listing of Tata Sons, calls for all options to be explored
Tata Trusts have not agreed to the listing of Tata Sons. The Tata Sons board will explore all available options immediately. Noel Tata believes listing would destroy the company's character. The board previously concluded in March 2024 that the company should remain unlisted. A separate board meeting will determine the appropriate course of action.
Tata Trusts' opposition may delay Chandrasekaran's fresh term and Tata Sons' IPO by months, warns governance expert
InGovern's Shriram Subramanian says Tata Trusts' opposition to N Chandrasekaran's reappointment could push the matter to court or a shareholder vote, with Noel Tata's stance potentially proving decisive at the AGM.
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