Tata Sons Chairman N Chandrasekaran has urged group chief executives to intensify efforts in propelling growth and fostering additional momentum across key sectors like electronics, EVs, batteries and steel in 2024.
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He also emphasised the importance for CEOs and CXOs to meticulously execute business strategies on the ground to seize growth opportunities. The Tata chairman has asked the group companies to work harder on customer-centricity and the One Tata plan, which was set in motion a few years back, The Economic Times reported citing company executives on anonymity.
The Tata Group chairman laid out the vision in a gathering of Tata group leaders in Dubai in the annual offsite meeting, according to the ET report.
Trent chairman Noel Tata and his three children – Neville, Leah and Maya – attended the meet, it added.
“Our chairman is confident that our group will be able to record good growth across businesses. There is a visible growth momentum, which he is clear that should be maximised and captured by operating companies. Where we want to bet on growth is clear, capital allocation is in place and the right talent has been picked,” the ET report quoted a top executive of the group.
The annual event encourages group executives to interact with each other to foster collaboration, and the group’s vision and plan are also clearly outlined by the Tata Sons chairman at this meeting. Group companies like Tata Motors, Tata Consumer, Tata Steel, Trent, Tata Digital and Tata Electronics made presentations on their growth plans.
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The group’s performance has been outstanding over the past year with the conglomerate’s 27 listed firms adding over Rs 9 lakh crore collectively in market capitalisation, bringing the total to Rs 30.45 lakh crore.
The group has started preparations for the Tata Capital IPO. According to the RBI regulations, Tata Sons and Tata Capital are treated as upper-layer NBFCs and are required to list shares by September 2025. Tata Sons owns about 95 percent stake in Tata Capital. If everything goes well, the IPO might hit the market by the end of this year.
India’s largest conglomerate is reportedly looking at more public issues to fund new businesses.
Tata Capital, Tata Autocomp Systems, Tata Passenger Electric Mobility, BigBasket, Tata Digital, Tata Electronics, Tata Housing and Tata Batteries are some of the firms Tata Group may be looking at to tap the capital markets in the next three years, according to reports.
In November 2023, Tata Technologies, a Tata Motors subsidiary, got was listed amid a bumper response. It was the group’s first initial public offering in almost two decades after Tata Consultancy Services went public in 2004.
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Tata Motors is also looking to split its passenger and commercial vehicles businesses into two listed companies to unlock the value of its electric vehicles and the Jaguar Land Rover luxury car-making unit.
