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SP Group Chairman Shapoorji Pallonji Mistry on Friday again pressed for listing of Tata Sons, saying it is not merely a regulatory compliance but a necessary evolution in the public interest, reposing faith in the government and RBI to "act decisively" on the matter. In a statement, Mistry said the SP Group has "full faith in the government of India and the Reserve Bank of India to act decisively" on the matter of listing of Tata Sons -- the holding company of the coffee-to-cars-and-software conglomerate. So far, no clear evidence-based case has been presented to explain how a public listing would materially damage the interests of the Tata Trusts or reduce their ability to serve beneficiaries, he added. Mistry's comment comes amid reports that two of the trustees of Tata Trusts, Venu Srinivasan and Vijay Singh, have favoured public listing of Tata Sons. On the other hand, Tata Trust Chairman Noel Tata is against the move. "As I have stated earlier, we would like to reiterate that
Logistics services provider Shadowfax is set to launch its Rs 1,900-crore initial public offering (IPO) next week, targeting a valuation of Rs 7,400 crore, people familiar with the matter said on Monday. The company is expected to announce the price band of its maiden public offering this week, they added. People familiar with the matter told PTI that Shadowfax is targeting a post-market valuation of about Rs 7,400 crore, lower than previous estimates of Rs 8,500 crore, in what is being positioned as a more conservative pricing approach aimed at attracting long-term institutional investors. They said the proposed IPO will comprise fresh issue of shares worth Rs 1,000 crore and an offer for sale (OFS) of Rs 900 crore by existing shareholders. As a part of the OFS, Flipkart Internet, Eight Roads Investments Mauritius II Ltd, NewQuest Asia Fund IV (Singapore) Pte. Ltd, Nokia Growth Partners IV, L.P, International Finance Corporation, Mirae Asset ,Qualcomm Asia Pacific Pte. Ltd and ...