Shapoorji ready to exit as Tata offers to buy out its stake

The Tata Group said it is open to buying shares held by the SP Group to aid the latter’s fund-raising efforts, its lawyer told the Supreme Court. (File)

THE SHAPOORJI Pallonji (SP) Group said in the Supreme Court Tuesday that it would exit from Tata Sons, provided it gets an “early resolution” and a “fair, equitable solution” in the protracted legal battle between the two sides. This could potentially mark an end to the 70-year relationship between two of India’s oldest and biggest business groups.

The SP Group is the largest minority shareholder in Tata Sons, the holding company of Tata Group, with 18.37 per cent stake. But it…