The move is seen as an indication that tensions continue at the charitable trust that holds majority stake at Tata Sons
The question of redemption of these bonds is crucial for TIL, because if the company fails to redeem, it could see interest rate on the instruments rise from 9.1 percent to 12.1 percent - a steep three-percentage-point markup - significantly raising its financing costs and straining cash flows.
Mariwala is bullish on the growth of the quick commerce segment, expecting FMCG companies to get about 8-10 percent of their sales through it soon.
With total debt - including perpetual instruments - estimated at over Rs 5,000 crore, any delay or rollover of these bonds could increase TIL’s interest outgo by nearly Rs 24 crore annually, further squeezing liquidity.
The SP Group may find it challenging to raise funds for the repayment, complicating its efforts to sell its stake in Tata Sons, where it owns a little over 18%.
The meeting follows a government-mediated discussion on Wednesday where officials urged representatives of Tata Trusts and Tata Sons Pvt. to settle their differences and avoid disruption to the group’s operations
Unlikely to discuss Tata Sons board positions, say sources
Noel Tata, who has helmed TIL since 2010 and been associated with the company for over two decades, has long viewed it as a vital bridge between the Tata Group’s domestic and overseas businesses
The situation reportedly escalated when the four trustees sought to nominate Mehli Mistry to the Tata Sons board - a move opposed by Noel Tata and Venu Srinivasan.
Ratan Tata, who chaired the Trusts for decades, was known for his sweeping authority. During his tenure, alignment between Tata Trusts and Tata Sons was ensured by the weight of his personal influence
Prior to becoming Defence Secretary, he was Secretary, Road Transport and Highways in the Ministry of Shipping, Road Transport, and Highways
The unrest within Tata Trusts has reportedly been building for several months, with divisions sharpening as the terms of key trustees near renewal
The combined market value of the biggest Indian conglomerate’s 16 firms dropped to its lowest in nearly two years on Friday
The move comes amid a production halt at JLR’ facilities in UK, Slovakia, Brazil and India due to a cyberattack in late August
Insurance behemoth LIC is likely to participate as an investor in the mega issue, the biggest so far this year
Noel Tata discussed a structure with separate positions of chairman, CEO and MD and a deputy CEO for the Tata group holding company
The disagreement traces back to an October 2024 resolution passed after Noel Tata became chair of the Trusts following Ratan Tata's death
Narendran’s potential entry comes as the board sees multiple exits
Former CEO Naveen Tahiliyani, who joined from Tata AIA in March 2024, departed abruptly in July after less than a year amid tensions over strategic direction and platform performance.
Two options are being discussed though talks are yet to reach a conclusion
Shapoorji is aiming to settle the outstanding Rs 8,810 crore in bonds that were issued by Goswami Infratech Pvt. and mature in April next year
Tata Sons, promoter of the NBFC, is expected to offload up to 23 crore shares, while International Finance Corporation will sell up to 3.58 crore in what is expected to be the biggest public offer of the year
Tata Sons plans to sell up to 230 million shares in the offering, while International Finance Corporation proposes to sell up to 35.8 million shares
The move holds major significance as it was the first time the Trusts has given its opinion on the issue of RBI’s listing requirements and its desire to give the SP group an exit
Consumer platforms delivered mixed performance in FY25, with 1mg posting strong profits, BigBasket under pressure, and NeuPass loyalty growth signalling deeper cross-brand engagement