Tata Sons

Tata Sons Pvt. Ltd. is the holding company of the Tata Group, headquartered in Mumbai. It owns the bulk of shareholding in the affiliate companies of Tata Group, as well as its land holdings across India, tea estates and steel plants. It derives its revenue from dividends from these companies, and owns the Tata trademark registered in India and several other countries.

Tata Sons was established as a trading enterprise in 1917, and engaged primarily in the overseeing of Tata Group's profits and structuring them into the right direction, before moving from conducting businesses directly to becoming the principal holding company of Tata Group. About 66% of its equity capital is held by philanthropic trusts endowed by members of the Tata family. The biggest two of these trusts are the Sir Dorabji Tata Trust and Sir Ratan Tata Trust.

As of March 2025, Tata Sons' standalone assets stood at .

History

Natarajan Chandrasekaran took over as Chairman of Tata Sons on 21 February 2017. The company also undertook conversion from a public limited company to a private limited one in 2017; both these decisions were challenged in court by former chairman Cyrus Mistry.

In December 2019, NCLAT declared the conversion, and by extension, Chandrasekaran's chairmanship, illegal and restored Mistry. On 10 January 2020, however, the Supreme Court stayed NCLAT's order; in response, Mistry filed a cross appeal in the court, seeking explanations for anomalies in the NCLAT. On 26 March 2021, the Supreme Court of India upheld Tata Sons' decision to sack Cyrus Mistry.

In March 2024, speculation arose about Tata Sons preparing for an Initial public offering (IPO), potentially valuing the company at up to $96 billion, according to investment advisory firm Spark.

In November 2024, Tata Sons reached an agreement with Singapore Airlines which saw Indian full-service carrier Vistara merge with Tata-owned Air India to form a single entity with an expanded network and broader fleet.

In August 2026, Tata Sons Chairman N. Chandrasekaran announced he would serve out his term ending in February 2027 without seeking reappointment. Following his decision, Sir Dorabji Tata Trust resolved to initiate the process of setting up a selection committee . Tata Trusts is considering urgent legal action to take governance decisions regarding Tata Sons. This has also increased the pressure on the firm for succession and potential stock market listing .

Subsidiaries Tata Capital Tata Capital Limited is an Indian financial and investment services company, based in Mumbai. It is a subsidiary of Tata Sons and has more than 700 branches across the country. The firm offers consumer loans, wealth management, commercial finance, and infrastructure finance, among others. It was established in 2007.

In November 2025, Tata Capital secured USD 15.85 million from the Green Climate Fund (GCF) under the “BEACON INDIA” programme to support early-stage climate-tech start-ups in India. The initiative, implemented with SIDBI and TREC-STEP, includes an additional USD 3 million grant and Tata Capital’s own contribution of about USD 47.6 million, aiming to reduce over 1.1 million tonnes of CO₂ and benefit around 2.9 million people.

Major holdings Listed companies As of 30 June 2025, Tata Sons' owns stakes in 15 listed companies:

Company Stake (%) Value Indian Hotels Company Limited 35.7 Tata Chemicals 31.9 Tata Communications 14.1 Tata Elxsi 42.2 Tata Consumer Products 28.7 Tata Investment Corp 68.5 Tata Motors 40.2 Tata Power 45.2 Tata Steel 31.8 Tata Consultancy Services 71.7 Titan Company 20.8 Trent 32.5 Tata Teleservices 19.6 Voltas 26.6 Hemisphere Properties 8.3

Unlisted companies Tata Sons also holds stakes in a number of unlisted companies, including Tata Capital (92.83%), Tata Projects (73.25%), Tata Advanced Systems (100%), and Air India (73.82%), among others.

Board of directors As of September 2025, the Tata Sons board consists of six members:

Position Personnel Executive Chairman Natarajan Chandrasekaran Non-Executive Director Venu Srinivasan Director Noel Tata Independent Director Harish Manwani Independent Director Anita M. George Executive Director Saurabh Agrawal

Shareholding pattern

Sir Dorabji Tata Trust and Sir Ratan Tata Trust are the two biggest shareholders of Tata Sons, with a combined stake of over 50%, while Pallonji Shapoorji Mistry was the largest individual shareholder. Pallonji's father, Shapoorji Pallonji Mistry, was a prominent construction magnate who acquired a significant stake of Tata Sons in the 1930s initially from Framroze Edulji Dinshaw, and finally when JRD Tata's younger brother, Dorab, sold his shares in a fit of anger. Pallonji's shareholding was divided equally between his two sons, Shapoor Mistry and Cyrus Mistry, who died in September 2022.

Total equity shares: 404,146 (₹10 each)

Shareholder No of shares Shareholding percentage Part of Sir Dorabji Tata Trust 113,067 27.98 Tata Trusts Sir Ratan Tata Trust 95,211 23.56 Tata Trusts Sterling Investment Corporation Private Limited 37,122 9.19 Shapoorji Pallonji Group Cyrus Investment Private Limited 37,122 9.19 Shapoorji Pallonji Group JRD Tata Trust 16,200 4.01 Tata Trusts Tata Education Trust 15,075 3.73 Tata Trusts Tata Social Welfare Trust 15,075 3.73 Tata Trusts Tata Steel 12,375 3.06 Tata Group Tata Motors 12,375 3.06 Tata Group Tata Chemicals 10,237 2.53 Tata Group RD Tata Trust 8,838 2.19 Tata Trusts Tata Power 6,673 1.65 Tata Group Indian Hotels Company 4,500 1.11 Tata Group Noel Tata 4,060 1.00 Tata family Jimmy Naval Tata 3,262 0.81 Tata family MK Tata Trust 2,421 0.60 Tata Trusts Tata Industries Limited 2,295 0.57 Tata Group Tata Consumer Products 1,755 0.43 Tata Group Ratan Tata Endowment Foundation 1,684 0.42 Tata Trusts Ratan Tata Endowment Trust 1,684 0.42 Tata Trusts Tata International Limited 1,477 0.37 Tata Group Piloo Minocher Tata 487 0.12 Tata family Sarvajanik Seva Trust 396 0.10 Tata Trusts Tata Investment Corporation 326 0.08 Tata Group Jimmy Minocher Tata 157 0.04 Tata family Vera Farhad Choksey 157 0.04 Tata family Shapoor Mistry 54 0.01 Shapoorji Pallonji family Firoz Cyrus Mistry 27 0.00 Shapoorji Pallonji family Zahan Cyrus Mistry 27 0.00 Shapoorji Pallonji family Leah Tata 2 0.00 Tata family Maya Tata 2 0.00 Tata family Neville Tata 2 0.00 Tata family Virendra Singh Chauhan 1 0.00 Others

Tata Sons

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