 "In this file photo of Ratan Tata with Cyrus Mistry. Tata Sons on Monday removed Cyrus Mistry as its Chairman, nearly 4 years after he took over the reins of the group. Tata makes a comeback, taking over as the company's interim boss for 4 months.")
The public shareholders of the 29 listed companies of the Tata group would be closely watching the developments of last week. While significant value has been eroded since the unceremonious exit of Cyrus Mistry as Tata Sons chairman on October 24, the voting rights of the public shareholders might come into play if boardroom battles crop up at individual companies.
LIC tops the list of public shareholders at listed Tata group companies, with the highest value of investments. It is followed by Citigroup's depositary arm, Citibank Na, the custodian of Tata Motors' ADR shares. Billionaire investor Rakesh Jhunjhunwala holds a big chunk, too, and so do sovereign investors like the Government of Singapore and the Abu Dhabi Investment Authority. Local institutions like insurers and mutual funds are other large holders of Tata stocks.
That might explain the market-wide interest in every bit of information emerging from Bombay House.
LOTS AT STAKE
