Noel Tata becomes largest Tata family shareholder in Tata Sons
What's the story
Noel Tata has become the largest shareholder of the Tata family in Tata Sons. Former director of the group Simone Tata transferred her assets, including shares in Tata Sons, to her son Noel. This move increased his stake to 1%, making him a key player in one of India's most influential business empires.
Share details
Noel Tata's shareholding in Tata Sons
Noel Tata now holds 4,058 shares in Tata Sons, up from 2,055. His half-brother Ratan Tata held 3,368 shares or an 0.83% stake which he bequeathed to his foundations, the Ratan Tata Endowment Foundation and the Ratan Tata Endowment Trust (RTET), in a 70:30 ratio. Another half-brother Jimmy Tata owns 3,262 shares or an 0.81% stake in the company.
Extended family
Other Tata family members' shareholding in Tata Sons
Other extended family members such as Piloo Tata (wife of the late Minocher Tata, a grandnephew of Jamsetji Tata) and their children Jimmy and Vera Choksey hold a combined 801 shares in Tata Sons. Ratan and Jimmy were his children from his first marriage to Soonoo Commisariat while Noel is his third son from second marriage with Simone.
Asset transfer
Simone Tata's share transfer and estate gifts
Simone Tata transferred 2,003 of her 2,011 shares in Tata Sons to Noel. The fate of the remaining eight shares is not known. Apart from the shares, Simone also gifted her estates in Geneva and Mumbai to Noel and his family. She had bought a 3,000sq. ft. apartment in Bakhtawar after selling their Fort residence Tata House to Deutsche Bank in 1992.