Tata Sons

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 executive 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.

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:

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:

Shareholding pattern

Sir Dorabji Tata Trust and Sir Ratan Tata Trust are the two biggest shareholders of Tata Sons, with a combined stake of around 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)

References

References

1. "TATA SONS PRIVATE LIMITED".
2. "About us". Tata trusts – official website.
3. (22 May 2017). "Tata Sons appoints Saurabh Agrawal as group CFO". Reuters.
4. (26 August 2025). "Tata Sons Annual Report FY25".
5. (12 December 2011). "Tata Sons: Passing the Baton". Forbes.
6. (1 February 2010). "International Encyclopedia of Civil Society".
7. (1 November 2018). "Trusting the family: a short history of Tata sons ownership". Business Standard.
8. "Tata Sons via @tatacompanies".
9. (16 September 2017). "Tata Sons looks to shed its public ltd tag for pvt ltd". Times of India.
10. (22 Sep 2017). "Tata Sons' shareholders vote to become a private company". Economic Times.
11. (24 August 2018). "NCLAT refuses to stay Tata Sons conversion to private co". The Economic Times.
12. Rautray, Samanwaya. (11 January 2020). "Tata vs Mistry: Supreme Court stays NCLAT order favouring Cyrus Mistry". The Economic Times.
13. Roy, Sukanya. (2 January 2020). "How Cyrus Mistry won the battle to reclaim chairmanship of Tata Sons". Business Standard.
14. (17 February 2020). "Tata-Mistry Case: Cyrus Mistry Files Appeal In Supreme Court Seeking More Relief From NCLAT". Bloomberg Quint.
15. (26 March 2021). "Tata Mistry Case: Supreme Court upheld Tata Sons' decision to sack Cyrus Mistry as chairman {{!}} India Business News - Times of India".
16. "Tata Sons IPO Listing Update: Big update on Tata Group's much-awaited next public issue". ET Now News.
17. (5 March 2024). "Tata Sons May Be Valued at Up to $96 Billion in IPO, Spark Says". Bloomberg.
18. (2024-11-11). "Air India-Vistara: India's luxury airline flies into the sunset".
19. (15 December 2017). "Tata Capital Ltd – Bloomberg".
20. (25 September 2017). "Thomas Cook buys Tata Capital subsidiaries".
21. "Tata Capital secures $15.85 million from Green Climate Fund to back climate start-ups". thehindubusinessline.
22. "Latest TATA Sons shareholdings and portfolio".
23. (5 April 2025). "Tata Capital files for confidential IPO with Sebi, eyes ₹15,000 cr listing". Business Standard.
24. (24 July 2025). "Tata Sons invests ₹32,000 cr in FY25, up 24%". Communications Today.
25. "India Ratings Affirms Tata Advanced Systems's Bank Facilities at 'IND AA'/Stable & CP at 'IND A1+'". India Ratings.
26. "Leadership". Tata Sons – official website.
27. (12 September 2025). "Tata Trusts vice-chairman Vijay Singh exits Tata Sons board". The Times of India.
28. Balachandran, Manu. (26 October 2016). "Pallonji Mistry—an Indian Irish billionaire's journey from outsider to kingmaker to opponent at the Tata Group". Quartz India.
29. Zachariah, Reeba. (13 December 2011). "Tata Sons: How Shapoorji Pallonji Mistry family checked into the group". Economic Times.
30. Manghat, Sajeet. (5 November 2016). "The Mistry Family Came On Board Tata Sons By Chance And May Exit By Force". Bloomberg Quint.
31. (4 September 2022). "Former chairman of Tata Sons Cyrus Mistry killed in road accident {{!}} India News - Times of India".
32. Alikhan, Anvar. (28 March 2017). "The mysterious man who owns one solitary share in the unlisted Tata Sons". Scroll.in.