A new era for the Tata Group
Providing an exit to the Shapoorji Pallonji Group will compel the Tata Group to reduce its equity holding in TCS, pledge equity of its listed companies against debt, or allow an outside investor in Tata Sons. Any of these options will reduce Tata Sons’ financial flexibility, heightening the performance pressures of the group. With the SP Group’s exit, the Tata group will no longer resemble its past.
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