Wednesday, 23 September 2020
Mistrys eye huge windfall, set Rs 1.8-trillion price tag for exit
The Shapoorji Pallonji (SP) group has valued its stake in Tata Sons at close to Rs 1.78 trillion. The valuation is based on the current value of Tata Sons' shares in group listed companies such as Tata Consultancy Services (TCS), Titan Company, Tata Motors, and unlisted subsidiaries including Tata Capital and Tata AIA Life Insurance.
Shapoorji Pallonji Group agrees to exit Tata Sons, calls for separation
In an attempt to end the long-standing and bitter dispute with the Tata group, the SP group, owned by the billionaire Mistry family, on Tuesday told the Supreme Court (SC) that it would exit Tata Sons, provided an early, fair, and equitable solution was reached. In a late evening statement, the Mistry family said a separation from the Tata group was necessary due to the potential impact the ongoing litigation could have on livelihoods and the economy.