Noel Tata's BIG plan, will inject Rs 300000000000 in…, will soon hire…
Tata Sons is set to infuse Rs 30,000 crore ($3.5 billion) in fresh capital into its growing ventures like Tata Digital, Tata Electronics, Air India, and also in its defence and battery businesses. The investment will be done through equity infusion, according to the Economic Times report.
It will lead their next phase of growth. This investment is approved by the board, as an addition to the earlier plan of $120 billion.
'The capital infusion is considered part of the holding company's plan to meet requirements at the execution level, necessary to scale the new businesses for their next phase of growth,' said a group executive to Economic Times
The report also claimed that the announcement of New Tata Digital CEO will be made by the company soon. These businesses are part of big sectors. Tata Electronics and Tata Digital already figure in the top 10 group businesses. Tata Sons thinks that their gestation period is now over, and now they need to focus on execution and profitable growth. Group chairman (N Chandrasekaran) is now keeping close track of the progress of the new businesses as reported by ET.
Tata Digital faced challenges after the exit of Naveen Tahilyani as CEO within a year of him taking the top job. So now Tata Sons will soon announce a new chief executive for this company.
In a move to sharpen his focus on these priorities, Chandrasekaran recently stepped down from the board of Tata Chemicals. Chandrasekaran, 62, took charge as Tata Sons chairman in February 2017 and got another five-year term at the helm in 2022.
In a similar move, Tata Sons Chairman N Chandrasekaran stepped down as chairman and director of Tata Chemicals on May 29, a regulatory filing said.
The board of directors have appointed S Padmanabhan, Director of the Company, as the Chairman of the Board with effect from May 30, 2025.
Besides, based on the recommendations of the Nomination and Remuneration Committee, the board appointed Modan Saha as an Additional Director (Non-Executive, Non-Independent) with effect from May 28, 2025.
(With inputs from PTI)
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