With new leaders like Noel Tata and Shapoor Mistry emerging, old-timers say the families could reassess their relationship
Here's a look at the complicated relationship between the Mistry family and Tata Group that spanned generations
Ratan Tata will always be remembered as a leader who left a lasting mark on the evolution of the Tata Group and his unfortunate passing marks the end of an era, SP Group Chairman Shapoorji Mistry said on Thursday. In his condolence message, Mistry said, "Mr Tata's unfortunate passing marks the end of an era. He will always be remembered as a leader who left a lasting mark on the evolution of the Tata Group." He further said, "The Mistry family has had a long standing relationship with the Tata Group and with Mr Ratan Tata." The SP Group is the largest minority shareholder with 18.37 per cent stake in Tata Sons, the principal investment holding company and promoter of Tata companies. The relationship between the SP Group and the Tatas soured after the sacking of Cyrus Mistry as Chairman of Tata Sons on October 24, 2016. Cyrus Mistry, who succeeded Ratan Tata as the chief of the Tata group in 2012, died in a car accident in 2022.
The offering comes at a time when investors are turning bullish on India's credit market as a strong economy and improved corporate balance sheets have alleviated concerns
The group has been seeking ways to free up cash as rising interest rates bite
The company is working with an adviser to seek buyer for its holdings in Afcons Infrastructure Ltd., a Mumbai-based infrastructure construction company, the people said
Both firms own 18.4% stake in Tata Sons
Family friend and NCP leader Supriya Sule joins hundreds of SP group employees and others at the funeral Tuesday morning. Reliance Jio chief Akash Ambani among mourners
In 2012, Mistry was appointed as the chairman of the Tata Group. His brother, Shapoor Mistry, was entrusted with the responsibilities of the SP Group
Company turned around in FY22 after the Covid pandemic hit its core real estate operations in FY21; experts say Pallonji Mistry's sons now lead the businesses
The patriarch of the over 155-year-old construction empire held an 18.4 per cent stake in Tata Sons
Indian Hotels runs the Tata group's luxury hotels and resorts business