Tata Sons eyes higher stake in group firms

KOLKATA: Tata Sons (TSL), the holding company of the Tata group, will increase its exposure in Tata Tea (TTL) through the creeping acquisition route. The long-term plan of TSL, which now controls 15.06% stake in TTL, is to raise its stake to 50% in the company within the next few years.

Interacting with reporters on the sidelines of Tata Tea’s AGM on Tuesday, RK Krishnakumar, director of TSL, said: “It is the intention of the group to raise the stake in all Tata companies, including Tata Tea. The main big player will be Tata Sons.”

Meanwhile, the Tata group reiterated that it would raise its stake in its group companies where its current holding stood at less than 51%. Talking to reporters in New Delhi on Tuesday, Ishaat Hussain, director (finance), Tata Sons, said: “Currently, we have over 51% stake in only two companies — TCS and Tata Tele. In all the other companies, we are looking at enhancing our stake.”