Adani Capital s management - led by former Lehman Brothers and Macquarie investment banker Gaurav Gupta, who joined the conglomerate in 2016 - owns around 10% of the company. Promoters own nearly 90%, which is up for grabs.
Ratan Tata s half-brother is Noel Tata. Naval Tata, Ratan Tata s father, was a member of the family who Navajbai and Ratanji Tata adopted from an orphanage.
Thanks to a big payout by the group s cash cow, Tata Consultancy Services (TCS), Tata Sons is set to earn a record-high equity dividend worth nearly Rs 33,350 crore from the group s listed companies for FY23, up 130 per cent from Rs 14,529 crore in FY22.
Nearly 90 per cent of this, or around Rs 30,500 crore, is estimated to accrue to Tata Sons while the rest will show up in its profit & loss account for FY24.
This is because nearly 80 per cent of the dividend payout by TCS for FY23 was done before the end of the financial year through three quarterly interim instalments and a special one in January this year.