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Cyrus Mistry is richest member of TCS board

At 4.16 mn shares, chairman-in-waiting holds 0.21% in group's cash cow

Shivani Shinde  |  Mumbai 

If is the crown jewel of the $83-billion diversified Tata Group, then the group’s chairman-in-waiting is its richest board member.

Mistry, who recently came on the board of the Rs 41,000-crore flagship IT company of the group, holds shares worth around Rs 500 crore. This disclosure was made by the company, on April 2, when the appointment was announced.

At that time, Mistry and his dependants held a total of 4.16 million shares, worth Rs 484 crore at on Monday’s closing price of Rs 1,162.50 a share on the Bombay Stock Exchange. In other words, he owns 0.21 per cent of the company.

Mistry alone owns more than double the shares that all his Tata group colleagues on the board together hold in the company. According to the annual report 2011, Mistry’s holding in the company is higher than that of chairman Ratan Tata, who holds around 1.5 million shares. Other board members who hold shares in the company include vice-chairman S Ramadorai, CEO and MD and CFO
 

SHARES HELD BY DIRECTORS
Name Number of
shares (mn)
Worth
(Rs cr)*
Cyrus Mistry 4.16 484.00
R N Tata 1.50 177.00
S Ramadorai 0.19 23.14
N Chandrasekaran  0.08 10.29
S Mahalingam 0.16 18.79
Phiroz Vandrevala 0.08 9.30
Ishaat Hussain 0.002 0.20
Source: Annual Report FY11
*Valuation calculated at Monday's share price,Rs 1,162.5 per share
 

“Mr has not bought shares of on April 2, 2012. He has disclosed his shareholding in as on the date of his appointment i.e. April 2, 2012. On appointment of a director in a company, Form B needs to be filed with the stock exchanges as required under Regulation 13 of the Sebi (Prohibition of Insider Trading) Regulations. In this regard, Form B was filed giving details of Mr Mistry’s holding in as on his date of appointment,” said a spokesperson.

With a presence in 42 countries, has 226,000-plus employees.

(The story has been updated with corrected figures.)

First Published: Tue, April 10 2012. 01:18 IST
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