TATA SONS HOLDINGS
Tata Group wants continuity in top management of Air India post merger with Vistara
Tata Group will retain all top Air India executives post-Vistara merger. Wilson, Aggarwal, Sharma stay. Kannan returns to Singapore Airlines, Rajawat joins merged entity. AI hires, consults Boston Group, uses Hogan Test. Air India Express, AirAsia India form no-frills airline. Tata targets ₹15,532 crore savings. AZB handles legal matters; AI's brand identity remains until 2025.
Tata Sons hits pause on fresh funds till e-commerce, electronics businesses shape up
"There is a strategic reason for not making any equity infusion even as organisational changes are being made," said one of the persons. "However, new fund infusion will commence after the strategy and organisational changes for better operational efficiencies are in place." Registrar of Companies (RoC) filings obtained through business intelligence platform Tofler show group holding company Tata Sons didn't invest in Tata Digital in FY24.
UP cabinet okays TATA Sons' Rs 650-cr proposal for 'museum of temples' in Ayodhya
The cabinet approved Tata Sons' museum project in Ayodhya and other developments, including helicopter services in key areas. Ministers discussed heritage building transformations and tourism fellowship programs during the press meet, emphasizing cultural preservation and tourism enhancement.
Holding company stocks rally up to 20%. Here’s why
Shares of holding companies like Bombay Burmah, Tata Investments, JSW Holdings and TVS Holdings rallied up to 20% on BSE on Monday as the Securities and Exchange Board of India (Sebi) introduced special call auctions with no price bands for price discovery of investment holding companies.
S&P Ratings places 6 Tata group companies on 'CreditWatch Positive'
The review is reportedly done to review whether the potential of support for the group entities from Tata Sons is greater than what the ratings agency had previously thought of. This is due to increasing operational and management linkages within the group.
Yield on Goswami Infratech’s Rs. 14,300 Cr NCDs rises from 18.75% to 22%
Goswami Infratech issued rupee-denominated zero-coupon NCDs to investors like Deutsche Bank, backed by group-level monetisation events for debt reduction.
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Tata Sons shares are not freely transferable, say Trusts
SP Group, promoted by the Mistry family, has pledged its entire 18.5% in Tata Sons held through two entities to secure monies from private credit funds such as Ares and Farallon. Additionally, it needs to raise funds for a separate repayment due in three months and refinance existing high-cost borrowings.
Disney said to sell 30% stake in Tata Play to Tata Group, valuing co at $1 billion
The deal came as the India’s media landscape is going through a major shakeup. Disney signed a binding agreement in late February to combine its India Unit with viacom 18 media pvt, creating an $8.5 billion entertainment giant that will have 750 million viewers and dominate the sector in the world’s populous country.
Noel Tata’s three children on five Tata Trusts' board seats
The Tata Trusts, overseeing the $150-billion Tata Group, have appointed Noel Tata's three children - Leah, Maya, and Neville - to the boards of its five philanthropic organizations. This move aims to introduce younger members into the leadership of the Trusts. These appointments mark the first time six members of the Tata family are actively involved in the Trusts, with Jimmy Tata and Noel Tata also holding positions on various Trust boards. Leah, Maya, and Neville have held managerial roles in Tata operating companies and will retain these positions alongside their new trusteeship responsibilities.
Tatas to conclude Vistara- AI merger by year end
The merger will make the Air India group India’s largest international carrier, connecting five of the seven continents, operating more flights on international routes than any other airline, Air India CEO Campbell Wilson said, according to people who attended the townhall.
Tata Sons raises royalty fee 2x to Rs 200 crore
The owner of the Tata brand name kept the royalty fee at Rs 100 crore for a period of five years, before finally raising it by two times. TCS, TaMo and others will now have to pay Rs 200 crore as royalty fee to Tata Sons.
Tata Motors looks to spin off its NBFC arms, merge with IPO-bound Tata Capital
Group holding company Tata Sons will offer shares of Tata Capital to Tata Motors. This will give India's third-largest carmaker by volume a minority stake in Tata Capital.
Paytm’s lending biz in trouble; inside Tata Digital’s top-level churn
Happy Wednesday! Paytm’s lending business has hit a roadblock as partner NBFCs have stopped issuing loans. This and more in today’s ETtech Morning Dispatch.
PFC seeks legal view on Shapoorji Pallonji promoters' Rs 15,000 crore loan ask
State-owned Power Finance Corp (PFC) is seeking legal counsel regarding the approval of a ₹15,000 crore loan to the promoters of the Shapoorji Pallonji (SP) Group, leveraging their 18.37% shareholding in Tata Sons as collateral. Earlier this year, the Mistry family, who are the promoters, proposed obtaining funds from the lender based on cash flows from their real estate business and their Tata Sons shares.
Tata Sons preparing for Tata Capital IPO with potential lookout for bankers: Report
The IPO could hit the market by the end of 2024. Separately, the conglomerate is also considering transferring some of its non-core assets to Tata Capital. The Tata Group is planning to bring about an IPO to restructure operations and make the company public.
Tata Group seeks waiver from RBI to avoid Tata Sons IPO: Report
If Tata Sons reorganises debt by repaying borrowing or transferring the holding in Tata Capital to another entity, it may get deregistered as a core investment company (CIC) and upper-layer NBFC.
Tata Group seeks RBI waiver to avoid listing NBFC: Report
Tata Group has requested a waiver from the Reserve Bank of India to avoid listing its holding company and non-banking finance firm, Tata Sons, due to revised RBI regulations in October 2021. The conglomerate needs to list by September 2025 to comply with the regulation. Tata Sons is a systemically important investment company that heavily borrows from the banking system.
Cultfit elevates Naresh Krishnaswamy as CEO, Mukesh Bansal takes on executive chairman role
Naresh Krishnaswamy was previously the head of fitness services at Cultfit. He has been running all key operations at the firm since cofounder and former chief executive Mukesh Bansal moved to Tata Digital as its president.
Stock investors have a new favourite on D-Street. It's not the Tatas, Adanis or Ambanis
The Goenka brothers-led companies surpassed Tata and Reliance in market capitalisation growth. Both Harsh Goenka and Sanjiv Goenka managed companies saw substantial market cap increments. They displayed remarkable financial performance in FY24.
Tatas keeping a close eye on pledged shares as Shapoorji Pallonji goes on Rs 20,000-cr fundraise
"Indian lenders and their credit committees would need to evaluate whether their inability to transfer or sell the security in a default situation represents an acceptable risk," said one of the persons.
Tata... Hello! Group back on D-Street, plans to launch several IPOs in 2-3 years
Tata Capital, Tata Autocomp Systems, Tata Passenger Electric Mobility, BigBasket, Tata Digital, Tata Electronics, Tata Housing and Tata Batteries are among the list of companies being primed to tap the capital markets. The group has been aggressively looking to scale up in new-age sectors such as digital, retail, semiconductors and electric vehicle batteries, among others.
Why is Tata Sons milking Rs 9,000 crore from its biggest cash cow TCS? 4 possible reasons
Tata Sons leverages TCS stake sale amid a bull run to capitalize on good valuation and high market value. Strategic cashing out allows debt reduction and circumvention of IPO listing.
Tata Sons to sell TCS shares worth Rs 9,000 crore. Is it to dodge the mega IPO?
In what could be part of a fundraising exercise to avoid the mega IPO of Tata Sons, the holding company of the Tata Group has offered to sell 2.34 crore shares of TCS in block deals. The total transaction could be worth about Rs 9,300 crore. The floor price of the block deal represents a discount of 3.6% from Monday's closing price.
Tata Chemicals shares crash 10% after Tata Sons IPO buzz fizzles out
Shares of Tata Chemicals hit lower circuit as Tata Group tries to avoid Tata Sons IPO. Tata Investment Corporation joins after rally. Tata Sons explores restructuring options to avoid getting listed.
Prefer NTPC over Tata Power; Tata Chemicals to benefit most in case of Tata Sons listing: Sudip Bandyopadhyay
According to Sudip Bandyopadhyay, Group Chairman, Inditrade Capital: "There is speculation about Tata Sons getting listed, benefiting Tata Chemicals. Tata Power, Tata Steel, Indian Hotels, and Tata Motors are benefiting from the halo effect. Tata Steel is the best buy. Manappuram is an interesting buy. Nykaa, PB Fintech, and Delhivery have good potential."
Rs 85,000-crore rally in 4 days! How Tata stocks dominated the week
Altogether the combined market capitalisation of all 24 listed Tata stocks shot up by about Rs 85,000 crore to Rs 31.6 lakh crore, shows data pulled from ACE Equity.
Tata Sons trying to avoid IPO. Is it Ok Tata Bye Bye for multi-billion-dollar rally?
Speculations over Tata Sons IPO turned the fundamental growth story of Tata Group into a momentum play this week. Tata Chemicals led the upside with 36% gain in 4 days. The total market value of all 24 Tata stocks jumped by Rs 85,000 crore to Rs 31.6 lakh crore. The Tatas are now exploring options to avoid getting listed on stock exchanges.
Tata stock zooms 34% in 3 days amid rising speculations over Tata Sons IPO
Among listed Tata Group companies, Tata Motors and Tata Chemicals own a 3% stake each in Tata Sons, whereas Tata Power owns a 2% stake and Indian Hotels owns 1% in the holding company. The market value of Tata Sons’ listed investments is around Rs 16 lakh crore.
If Tata Sons brings out IPO, which listed Tata stock will gain the most?
The m-cap of Tata Sons' listed investments is estimated at Rs 16 lakh crore and the market value of unlisted investments can be worth Rs 1-2 lakh crore given the group's foray into semiconductors and EV batteries. Dorabji Tata Trust (28%) and Ratan Tata Trust (24%) own the majority of Tata Sons.
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