Tata’s old ally comes with ₹25000 cr ask & deadline
Mumbai: Shapoorji Pallonji Group chairman Shapoor Mistry has approached Tata Sons with a request for approximately ₹25,000 crore over the next 24 months, according to sources familiar with the matter. The SP Group owns around 18.37% of unlisted Tata Sons and has been exploring ways to monetize about 7% of its holding. Mistry has submitted the proposal to Tata Trusts chairman Noel Tata.
Talks have made limited progress due to disagreements over the structure and valuation of the potential transaction. One proposed solution is a share swap, where SP Group would receive shares in a basket of listed Tata companies in exchange for part of its stake.
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