TATA TRUSTS
Feeling 'been there, donor that?' Lessons on CSR longevity from Tata Education Trusts
Tata Education Trusts resumed grants to TISS, addressing issues like dependency and self-sufficiency. With examples like Stanford University's shift to diverse funding, the need for smooth donor transitions is crucial. ₹15,600 cr in CSR funds highlights the importance of execution capabilities and accountability in ensuring effective impact engagement in the social sector.
NIT Mizoram achieves impressive placement record for 2023-2024 academic session with 86.7% overall placement
NIT Mizoram posted an 86.7% placement rate for 2023-2024, with the highest salary package at 14.5 LPA and an average over 7 LPA. Over 75 companies, including Adobe, Deloitte, Vedanta, and Mahindra & Mahindra, recruited students. Among the students, Shristi Sharma and Nishant Nitin Mishra, who secured four job offers, praised the Training and Placement Office. Internships, part of the curriculum, involved 100% student participation with organizations like SAIL, Indian Railways, and Google, offering stipends between ₹5,000 to ₹20,000 per month.
Ratan Tata launches Tata Trusts Small Animal Hospital in Mumbai: Here’s how you can book an appointment
The much-anticipated day has finally come! Ratan Tata has officially inaugurated his long-cherished 'pet project,' the Tata Trusts Small Animal Hospital. Located in Mumbai's Mahalaxmi area, the hospital is dedicated to caring for both stray and domesticated dogs, cats, and birds.
Ratan Tata prevents mass firing of 115 TISS staff, provides financial grants
Ratan Tata has emerged as a savior for TISS employees. Recently, the prestigious Tata Institute of Social Sciences laid off 115 staff members. However, this decision was quickly reversed after Tata, chairman of the Tata Education Trust, offered to extend financial grants.
NHAI InviT head Suresh Goyal to quit
Prior to joining NHAI InvIT, Goyal was the Head of Macquarie Infrastructure and Real Assets for South East Asia & India region. Under Goyal, Macquarie Group had won the rights to manage 648km of national highways by bidding Rs 9,682 crore in an auction National Highway Authority of India (NHAI) in 2018.
Share market update: Most active stocks of the day in terms of total traded value
The NSE Nifty index was trading 60.65 points up at 23383.6
Share market update: Most active stocks on D-Street today in terms of volume
The NSE Nifty index was trading 67.65 points up at 23390.6
Ixigo closes pre-IPO secondary sale at Rs 176 crore
New investors Ashoka India Equity Investment Trust, Tata Mutual Fund, Bay Capital, and Steadview Capital, have acquired these shares. During a secondary sale, existing investors sell their stake, so the proceeds do not go to the company. Ixigo is also raising Rs 120 crore in fresh capital through the public issue.
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.
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.
Deeptech startup Myelin Foundry raises $4 million led by Sidbi Venture Capital
Myelin Foundry secured $4 million with participation from existing investors. The funds will fuel platform development, global expansion, and solidify their edge AI leadership.
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.
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 Sons charting new path to sidestep Dalal Street
Tata Sons net debt as of September last year was ₹15,200 crore, according to rating company Crisil. Tata Sons has substantial, stable income from group entities, including Tata Consultancy Services (TCS), through dividends and buybacks, which should be sufficient for meeting interest obligations and planned investments. Its cash equivalents were ₹2,000 crore.
Ratan Tata, crusader against speciesism
As co-inhabitants and co-owners of the world, all Earthlings deserve equal treatment and protection. Ratan Tata's announcement of a healthcare centre for animals in Mumbai is a tangible step towards resisting speciesism and promoting the well-being of all living beings, regardless of species.
Ratan Tata's new 24X7 animal hospital opening soon. When and where?
At 86, renowned for his compassion toward stray animals, Ratan Tata is set to inaugurate a cutting-edge animal hospital in Mumbai. This initiative, born from his struggle to find advanced care for his injured pet, will open in March. Spanning 2.2 acres and costing Rs 165 crore, it will be among India's few 24x7 animal hospitals.
Senior advocate Darius Khambata returns as trustee of 2 Tata Trusts
In late 2016, Khambata quit the trusts citing professional commitments as the reason. That was just before the dispute between the Tata Trusts and the Shapporji Paoolonji Group began, which subsequently led to several litigations in many courts and quasi-judicial bodies.
Mehli Mistry joins board of Ratan Tata's investment firm
Tata and Mistry are the only directors of RNT Associates. Mistry's induction has not been previously reported. RNT Associates has offices in Mumbai and Singapore and has invested in startups such as ikure, cult.fit and Greaves Electric Mobility according to Tracxn data. An email sent to Tata did not elicit a reply till the time of going to press.
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