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Shapoorji Pallonji Group agrees to exit Tata Sons, calls for separation

The SP group is expecting a valuation of Rs 1.78 trillion for its stake, valuing the entire Tata Sons at Rs 9.7 trillion, or Rs 2.4 crore per share

Ratan Tata, Cyrus Mistry

Ratan Tata (left) and Cyrus Mistry are engaged in a bitter feud. The 70-year-old relationship between the two groups might see an end soon

Dev Chatterjee Mumbai
In an attempt to end the long-standing and bitter dispute with the Tata group, the SP group, owned by the billionaire Mistry family, on Tuesday told the Supreme Court (SC) that it would exit Tata Sons, provided an early, fair, and equitable solution was reached.

In a late evening statement, the Mistry family said a separation from the Tata group was necessary due to the potential impact the ongoing litigation could have on livelihoods and the economy.

The Mistry family owns 18.37 per cent in Tata Sons and is its largest minority shareholder.

The statement came within hours of the Tata group informing

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First Published: Sep 22 2020 | 7:37 PM IST

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