This AGM will be the first since the passing of Ratan Tata, marking a significant leadership transition. It will also see a stronger presence from Tata Trusts, which hold 66% of Tata Sons and have nominated six representatives to the board. Noel Tata, the largest individual shareholder with about 1% of the company, is expected to attend in his personal capacity as well.
Tata Sons’ executive chairman N. Chandrasekaran is likely to update shareholders on the planned initial public offering of Tata Capital Ltd, which is expected before September. The board has also recommended a dividend of Rs 64,900 per ordinary share, up from Rs 35,000 last year, taking the total payout to Rs 2,622.91 crore. Tata Trusts would receive about Rs 1,731 crore from this dividend to fund their charitable activities.
The Trusts have maintained their stance that Tata Sons should remain a private company. Talks with the Shapoorji Pallonji Group, which owns 18.4% of Tata Sons, about a possible stake sale are ongoing but without any final agreement yet.