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Tag: Tata Sons

  • Shibashish Roy takes the reins at electronics retailer Croma

    Shibashish Roy takes the reins at electronics retailer Croma

    MUMBAI: Shibashish Roy has taken over as chief executive & managing director of Infiniti Retail Ltd (Croma), India’s electronics retail powerhouse, effective 1 April 2025. The Tata Group has opted for a company man to mind the shop after the departure of founding member Avijit Mitra.

    Roy, a Tata Administrative Services (TAS) officer with over 20 years of group experience, has been quietly climbing the corporate ladder since joining as a project trainee at Tata Steel in 2003. His circuitous route to the top job included stints at Voltas, Tata Motors, and a six-year stretch at Tata Capital where he cut his teeth in wealth management and investment banking.

    The digital-savvy executive spent seven years at Tata Sons, including time in the chairman’s office, before joining Croma in 2021. Since then, he’s been on a rapid ascent—chief business officer to chief operating officer to deputy chief executive and now to the corner office—in what appears to be a meticulously planned succession.

    Outgoing boss Mitra, who retires after 35 years with the Tata Group, leaves behind sizeable shoes to fill. Under his stewardship, Croma expanded from a fledgling electronics retailer to a behemoth with over 560 stores across India.

  • Tata Sons get CCI nod for additional slice of Tata Play

    Tata Sons get CCI nod for additional slice of Tata Play

    MUMBAI: Tata Sons has secured regulatory approval to tighten its grip on the arguably the country’s best distribution platform operator. The Competition Commission of India (CCI) has given the green light for the conglomerate to acquire a 10 per cent stake in Tata Play from Temasek-owned Baytree Investments. 

    The transaction, valued at an unconfirmed $100 million, boosts Tata Sons’ ownership to 70 per cent, with Walt Disney holding the remaining 30 per cent. Industry insiders note the deal values Tata Play at a modest $1 billion—a significant haircut from its earlier publicly known  $3 billion valuation.

    “Commission approves the acquisition of certain additional shareholding in Tata Play Limited by Tata Sons Pvt Ltd  from Baytree Investments (Mauritius) Pte Ltd,” the CCI declared in Monday’s press release.

    The move comes as speculation swirls around a potential merger between Tata Play and Bharti Airtel’s rival DTH business. Both companies are reportedly engaged in bilateral talks, with sources suggesting a share-swap arrangement that would make Airtel the majority stakeholder with 52-55 per cent of the combined entity. Tata Play’s stakeholders, including Disney, would retain 45-48 per cent, according to unconfirmed media reports.

    Airtel’s senior management is expected to lead the merged business, with Tata angling for two board seats. 

     For Tata Sons, already registered as a “Systemically Important Non-Deposit Taking Core Investment Company” with the Reserve Bank of India, this represents another strategic tile in its sprawling business mosaic.

    The regulatory approval mirrors last year’s CCI nod for Bharti Airtel’s acquisition of a 20 per cent stake in its DTH arm, Bharti Telemedia, from Warburg Pincus affiliate Lion Meadow Investment Ltd  for Rs 3,126 crore.

  • Tata Sons seeks CCI green signal for additional 10 per cent stake in Tata Play

    Tata Sons seeks CCI green signal for additional 10 per cent stake in Tata Play

    MUMBAI: Tata Sons, the promoter of The Tata group, is seeking to own a larger slice of its distribution platform operator Tata Play. It has sought approval from india’s fair trade regulator, the Competition Commission of India (CCI), to acquire an additional 10 per cent  stake in Tata Play. The stake will be purchased from Baytree Investments (Mauritius) Pte Ltd, an affiliate of Singapore’s sovereign wealth fund, Temasek Holdings.

    Currently holding a 60 per cent stake in Tata Play, Tata Sons’ acquisition will increase its ownership to 70 per cent. Tata Sons is an investment holding company registered as a core investment company with the Reserve Bank of India, classified as a systemically important non-deposit taking core investment company.

    Tata Play, formerly known as Tata Sky, is a leading content distribution platform in India, offering pay TV  and direct-to-home (DTH) services. it also operates Tata Play Binge, an over-the-top (OTT) platform that aggregates popular streaming apps under a single subscription model.

    The proposed transaction has been notified to the CCI under sections 6(2) and 5(a) of the Competition Act, 2002. these provisions mandate regulatory approval for acquisitions exceeding certain thresholds.

    Both Tata Play and Tata Sons have asserted that the transaction will not adversely affect competition in any relevant market. They have appealed to the  CCI to  examine the deal in the context of India’s wired broadband internet services and the complementary linkages between Tata Sons’ internet services and Tata Play’s online platforms.

    Meanwhile, the buzz of a transaction between Airtel and Tata Play taking place seems to have died down. Apparently, valuations are an issue and the further loss of subscribers by the  pay TV ecosystem has put a dampener in any deal going forward, reveal sources close to the conversation. Also, the earlier transaction between the Essel group Dish TV and Videocond2h didn’t yield any clear identifiable long term benefits for the former as it struggles to sustain itself in a sector that is being gnawed away at by DD’s free DTH service FreeDish, and low cost streaming services. 

    And going by the way that Tata Sons has applied to the CCI is it possible that the group has decided to retain its broadband part of Tata Play while letting go off of the video services portion the Distribution platform operator provides?If that is the case, then who is the buyer?  Or is it that the group still sees potential in both the video and internet delivery components of Tata Play and has decided to continue to invest in both? The Tata group is not talking;  neither is Tata Play.

    Guess, we will have to keep watching this space. 

  • Tata Literature Live! The Mumbai Litfest to be held from 25 – 29 October

    Tata Literature Live! The Mumbai Litfest to be held from 25 – 29 October

    Mumbai: The 14th edition of Tata Literature Live! The Mumbai Litfest is around the corner! With committed audiences both online and on ground, the Festival will start with its online edition on 25 – 26 October with leading international authors such as Salman Rushdie and Elif Shafak. The Festival will take place on ground from 27 – 29 October at the NCPA, Nariman Point and St Pauls Institute of Communication Education and Title Waves bookstore in Bandra.

    The Festival will maintain its hallmarks of inclusivity, diversity and innovation encompassing nationalities, genders, geographies, communities and languages.

    Celebrated thought leaders, wordsmiths and storytellers from India and 15 other countries, will explore issues at the heart of fiction, poetry, mathematics, economics, communications, business, sport, health, history, art, society, nature, food, with fresh and unique perspectives that characterize the Litfest.

    Participants will include Abanti Sankaranarayanan, Anuja Chauhan, Arjun Raj Gaind, Gulzar, Gurcharan Das, Faye D’Souza, Jerry Pinto, Kunal Vijayakar, Luke Coutinho, Mani Shankar Aiyar, Manoranjan Byapari, Marcus du Sautoy, Meeran Chadha Borwankar, Mehdi Hassan, Michel Bussi, Prahlad Kakar, Peter Frankopan, Rajdeep Sardesai, Ranjit Hoskote, Sam Miller, Shanta Gokhale, Shashi Tharoor, Shobhaa De, Sudha Murty, Tenzin Tsundue, Vivek Shanbhag, Zac O’ Yeah, Zai Whitaker among others.

    The Festival highlights will never fade: the prestigious Poet Laureate, Lifetime Achievement, and Literary Awards; the packed-hall Great Debate; an introduction to a language other than English (Kannada this year); 14 book launches; gripping indoor and outdoor stage performances; the fully subscribed workshops and the popular Book Swap. The Binod Kanoria Awards for Children’s Literature and The Rotary Writing For Peace Award, introduced last year under the aegis of the Festival, will also be presented.

    Each year the Festival aims to bring new experiences to its visitors. This year, in conjunction with the Goethe Institut, the festival is bringing The Infinite Library – a travelling installation that uses VR and other media to reimagine the future of libraries as interactive spaces that engage visitors through multisensory forms of storytelling. There will also be a brand new Spoken Word performance, and an outdoor performance from the UK that merges pottery and dance.

    Co-director of the LitFest Amy Fernandes said, “We are delighted to present the 14th edition of the Tata Literature Live! The Mumbai Litfest, and so proud that it has become an integral part of Mumbai’s life. This year we have, as always, a blend of established stars and fresh faces, concurrent themes and traditional motifs, and sessions ranging from serious cogitation to dashes of sparkle!

    Co-director of the Litfest Quasar Thakore Padamsee said, “Due to the circumstances of the past few years we have acquired a vast global digital audience, so online programming is also now a permanent strand of our festival. We look forward to engaging with our loyal audiences both virtual and on ground for an invigorating five days, celebrating The Power Of Words, which resonates through all our Festival activities.”

    Tata Sons brand custodian Harish Bhat said, “At the Tata Group, we take great pride in our association with Tata Literature Live! The Mumbai LitFest. This festival has become an intrinsic part of Mumbai, offering our maximum city a vibrant, diverse and inclusive literary experience each year.  Here, we celebrate writers, their art and their rich contributions to our world.

    This year’s Litfest will shine a spotlight on works by women as well as regional writers.  The hybrid format introduced last year is here to stay – the festival will feature both digital and on-ground sessions.  We look forward greatly to welcoming lovers of literature to this festival. We are confident that the exciting program line-up will delight you.”

  • Tata Sons onboards Campbell Wilson as CEO and MD of Air India

    Tata Sons onboards Campbell Wilson as CEO and MD of Air India

    Mumbai: Tata Sons on Thursday appointed Campbell Wilson as CEO and managing director of Air India. Wilson headed Singapore Airlines’ budget carrier Scoot prior to joining the Indian carrier.

    The Air India board approved the appointment subject to requisite regulatory approvals, the group said in a statement.

    Commenting on the appointment, Air India chairman N Chandrasekaran said, “I am delighted to welcome Campbell to Air India. He is an industry veteran having worked in key global markets cutting across multiple functions. Further, Air India would benefit from his added experience of having built an airline brand in Asia. I look forward to working with him in building a world-class airline.”

    Wilson has 26 years of aviation industry expertise across both full service and low-cost airlines. Having started off as a management trainee with Singapore Airlines (SIA) in New Zealand in 1996, Wilson then worked for SIA in Canada, Hong Kong and Japan before returning to Singapore in 2011 as the founding CEO of Scoot, which he led until 2016.

    He further served as the senior vice president sales and marketing of the airline, before returning for a second stint as the CEO of Scoot in April 2020.  Wilson holds a master of commerce degree in business administration from the University of Canterbury in New Zealand.

    Speaking on his appointment, Wilson said, “It is an honour to be selected to lead the iconic Air India and be a part of the highly respected Tata Group. Air India is at the cusp of an exciting journey to become one of the best airlines in the world, offering world-class products and services with a distinct customer experience that reflects Indian warmth and hospitality. I am excited to join Air India and Tata colleagues in the mission of realising that ambition.”

    Earlier in March this year, Tata Sons had announced the appointment of former chairman of Turkish Airlines Ilker Ayci for the same post. However, Ayci had declined the post amid controversies over his political views pertaining to the Indian sub-continent.

    The Tata Group took back the management and control of Air India in January this year, after completing the beleaguered airline’s purchase back from the government of India. In a homecoming for the homegrown airline, Air India was handed back to its founders which began operations as Tata Air Services in 1932, before being nationalised.

     

  • Air India rejig: N Chandrasekaran brings in key Tata Group personnel

    Air India rejig: N Chandrasekaran brings in key Tata Group personnel

    Mumbai: Tata Sons executive chairman and Air India chairman N Chandrasekaran on Saturday affected a major reshuffle in the top management of the recently-acquired airline in what is Air India’s first major senior management reshuffle since it was taken over by the conglomerate in January this year. Tata Sons senior vice president Nipun Aggarwal replaces Air India veteran Meenakshi Malik as chief commercial officer, while former Tata Steel VP- human resources Suresh Dutt Tripathi succeeds AI’s Amrita Sharan as chief human resources officer (CHRO).

    Notably, the Tata Group is yet to appoint a chief executive officer of the airline.

    The order was issued by Chandrasekaran, who is also the chairman of Tata Sons and comes on the back of the announcement of Tata Sons executive chairman N Chandrasekaran formally taking charge as chairman of Tata Digital earlier this week. He was reappointed as the chairman of Tata Sons for another five years in February this year.

    Malik and Sharan were on Friday appointed as advisors to the CEO of Air India, according to a company communication to PTI. As the Tata Group is yet to appoint the CEO of Air India, the duo will currently be advisors to Chandrasekaran, it mentioned.

    Satya Ramaswamy, who has worked at Tata Consultancy Services before, was on Friday appointed as chief digital and technology officer at Air India, the order stated.

    Rajesh Dogra was appointed as the head of customer experience and ground handling at Air India, it mentioned.

    Air India veteran RS Sandhu will continue to hold the charge of chief of operations at Air India, it noted.

    Another Air India veteran Vinod Hejmadi will continue to hold the charge as chief financial officer, it mentioned.

    “The new appointees will exercise the powers of functional/departmental heads as per the delegation of authority. We wish them all the very best in their new role,” Chandrasekaran stated in the order.

    After a competitive bidding process, the government had in October last year sold Air India to Talace Pvt Ltd — a subsidiary of the Tata group’s holding company.

  • Ilker Ayci declines Tata Sons’ offer to be new Air India CEO

    Ilker Ayci declines Tata Sons’ offer to be new Air India CEO

    Mumbai: Former Turkish Airlines chairman Ilker Ayci has declined Air India’s MD and CEO offer, weeks after appointment. In a statement, Ayic said his appointment was ‘coloured’ by the Indian media, citing it as the reason to opt out.

    “I have come to the conclusion that it would not be a feasible or an honourable decision to accept the position in the shadow of such a narrative,” Ayci said in a statement on Tuesday.

    Ayci was seen as close to Turkish president Racep Tayyip Erdogan, a Pakistan ally. He used to be the personal advisor to Erdogan in 1994 and had served as the chairman of Turkish Airlines from 2015 till now.

    Former chairman of Turkish Airlines Ilker Ayci named Air India CEO

    Ayci said that at a recent meeting with Tata Group chairman Chadrasekaran, he ‘regretfully’ informed him that he will be declining the position.

    “As a business leader who has always prioritized professional credo and more importantly, the happiness and well being of my family above all else, I have come to the conclusion that it would not be a feasible or an honorable decision to accept the position in the shadow of such narrative,” he said.

  • Former chairman of Turkish Airlines Ilker Ayci named Air India CEO

    Former chairman of Turkish Airlines Ilker Ayci named Air India CEO

    New Delhi: Tata Sons on Monday announced the onboarding of former chairman of Turkish Airlines Ilker Ayci as chief executive officer and managing director of Air India. He will assume his responsibilities on or before 1 April, Tata Sons said.

    “The board after due deliberations approved the appointment of Ilker Ayci as the CEO & MD of Air India. This appointment is subject to requisite regulatory approvals,” Tata Sons said in a press statement.

    The Air India board met on Monday to approve the candidature of Ilker Ayci. Tata Sons chairman N Chandrasekaran was a special invitee to this board meeting.

    “Ilker is an aviation industry leader who led Turkish Airlines to its current success during his tenure there. We are delighted to welcome Ilker to the Tata Group where he would lead Air India into the new era,” said N Chandrasekaran on Ayci’s appointment.

    Recently, Tata Group has officially taken over Air India from the government. Tata Sons is the holding company of the business conglomerate.

    “I am delighted and honored to accept the privilege of leading an iconic airline and to join the Tata Group,” Ayci said. “Working closely with my colleagues at Air India and the leadership of the Tata Group, we will utilise the strong heritage of Air India to make it one of the best airlines in the world with a uniquely superior flying experience that reflects Indian warmth and hospitality.”

  • Tata Sons restores salaries, to greenlight pay hike soon

    Tata Sons restores salaries, to greenlight pay hike soon

    NEW DELHI: Salt-to-software conglomerate Tata Group's holding company Tata Sons has restored staff salaries across several operating entities and will likely announce pay increases in 2021. This comes after almost a year of  top executives taking an estimated 20 per cent pay cut to hold down costs through the Covid-induced economic downturn.

    TCS, Voltas, Tata Consumer, Titan, Tata Motors, Tata Chemicals, Tata Power, Tata Steel, Trent, and TataCapital are among the group blue-chip entities that have already announced pay increases and staff bonuses. Top group officials said they are optimistic about India's growth story, with the country likely regaining its position as the world’s fastest-expanding major economy.

    Compensation of top management executives is being restored by the end of this month and pay increases are being finalised across group companies.

    Tata Sons director Bhaskar Bhat told the Economic Times (ET) that there is optimism about business prospects in the country.

    "Businesses in smaller towns are roaring and I am very optimistic about the Indian consumer,” Bhat said. “The wheels of growth are driven by the consumer. The group focused on protecting its employees last year and kept costs in check. Going ahead, profits will be driven by business growth too."

    According to media reports citing highly placed sources within the company, significant cost compressions such as electricity, security, and food costs have gone straight to the bottom line. Reports further stated that monthly business disbursements are back to similar or higher levels than last year.

    "Our employees have shown great resilience and commitment toward their roles despite health concerns and we find it appropriate to acknowledge and reward their contribution to growth," a Tata Capital spokesperson told ET. 

  • How does Dream11 benefits from IPL sponsorship

    How does Dream11 benefits from IPL sponsorship

    NEW DELHI: Yesterday, the announcement around Fantasy sports platform Dream11 bagging the title sponsorship rights for IPL 2020 made it to news outlet across the world. The fantasy league platform won the right for Rs 222 crore and replaced the Chinese mobile phone brand, Vivo, for a four-and-a-half-month deal. For the record, Vivo this year pulled off the association due to the ongoing Indo-Sino tensions across after the border.

    Dream11 has managed to get the sponsorship title at nearly half the price to what Vivo was paying. Vivo signed the title sponsorship rights with BCCI for five years till 2021 at Rs 2,199 core. The Chinese smartphone brand was paying approximately Rs 440 crore per year to BCCI whereas Dream11 has only spent Rs 222 cr.

    According to Dream Sports (Dream11) CEO & co-founder Harsh Jain, "The launch of IPL in 2008 gave birth to the idea of Dream11. We would like to thank the BCCI for giving us an opportunity to become the Title Sponsor of IPL, which in our opinion is the world’s greatest sports property. We are happy to continue building our partnership with BCCI & IPL to further promote sports fan engagement in India, and look forward to 10 Crore+ Indians making their Dream11 for every Dream11 IPL match.”

    Founded by Jain and Bhavit Sheth, the brand became India’s first gaming unicorn in April 2019. In the last few years, Dream11 has scaled up the brand proposition in the market while creating a niche for itself. The fantasy game app in the last two years has associated with multiple sports platforms like ICC, IPL, and PKL. They have roped in former Indian cricket team captain Mahendra Singh Dhoni, the face of the brand that has helped them garner consumers' attention effectively . The brand has expanded its wings with the launch of Fancode and DreamX.

    Good Deal

    Dream11 is already a sponsor to several IPL teams and has grown in leaps and bounds in the recent past.

    Lloyd Mathias, Business Strategist, who was closely involved with cricket sponsorship as the executive VP Marketing of PepsiCo defines the deal a great opportunity to cement itself as the clear leader in fantasy and online gaming. "They now establish themselves firmly on consumers' minds ahead of MyTeam11 and My 11circle and Howzat. This is an opportunity to come in as title sponsor at a 50% discount," mentions Mathias.

    Top of the Mind Recall

    There is no doubt that Dream11 has emerged as the torchbearer of this category in India and has grown in leaps and bounds. From a base of two million users in 2016, fantasy gaming platform has over 90 million users, according to a report by accounting firm KPMG published earlier this year. They have built a strong social media community. Several reports suggest that the brand clocked revenue of Rs 700 cr in FY19.

    The association with IPL will generate a massive reach and exposure of the brand not just across India but beyond the borders also.

    Dentsu One president Harjot Singh Narang defines that the BCCI and Dream 11 coming together is the best way to synergise each other’s reach to make IPL this year really come back with a bang and use this to fulfill marketing and monetisation goals in a market with a pent-up demand. 

    He further added, "For Dream 11 particularly this is their moment to make it big and target catapulting themselves to a national pastime contender with the fantasy sports world. Dream 11 needed a moment in the spotlight for this jump and have aptly invested behind the country’s passion to power that leap just like great brands like Pepsi, CocaCola, Crick Info, etc. 

    Cricket tournaments and IPL, in particular, is the single most visible platform for any brand to gain extensive reach and frequency of exposure with their potential audience in India and Dream 11 will definitely get a solid bang for its buck".

    Dream11’s association with sports has grown over the years and it is presently partnering a total of 19 sporting leagues along with 6 Indian Premier League Franchises.

    Due to the prevailing Covid2019 situation in India, the IPL is happening this year in UAE whereas other marquee global sporting events like the Olympics and Wimbledon have been pushed to 2021. Participating brands will see a huge jump in TV viewership given the total absence of live sporting entertainment in the market over the past 6 months. 

    Mathias mentions that IPL gives huge awareness and adoption. In a span of 50 days a brand can establish itself in consumer minds across a broad demographic. He adds, “They see cricket as the shortest route to grow exponentially – and outpace their competitors.”

    Future Partner

    The one thing which is still not clear is whether or not Vivo will be making a comeback next year? However, there are speculations that BCCI will opt for a fresh bid next year. Even if Vivo doesn’t return, BCCI has decided not to go with the same amount as it is comparatively lower. 

    Since the title sponsorship, this year has been awarded at half price; will this hurt the brand value of IPL in the long run when it will choose a new sponsor next year? 

    Mathias believes that  “as far as the IPL is concerned there is virtually no loss of brand value. The biggest chunk of IPL’s revenues accrues from the STAR TV network who guarantee US $2.55 billion to the BCCI as an official broadcaster – so about US $ 500 million (Rs 3800 cr) a season. The drop in the price of the title sponsorship by half -about Rs 220 cr – is tiny in comparison.”

    It has been widely reported that the educational platform Unacademy and Bjyus were also in the sponsorship race. Unacademy had bid Rs 210 crore while Byju's had bid Rs 125 crore for the same period. Byju’s is the current jersey sponsor of the Indian cricket team. Even Tata Sons too showed interest in bagging the sponsorship rights, but the deal couldn’t take place due to the lower bidding offer. The Indian startup ecosystem is very keen on sports marketing (mainly cricket).

    Havas Media Group MD– India Mohit Joshi states that ed-tech is a sunrise sector currently and has a huge untapped potential in India. “Indian start-up ecosystem has always been associated with impact driving properties – whether it was the jackets in publications or the sponsorships of big-ticket programming in yesteryears. This year, IPL association is one of the biggest impact driving opportunities available, and hence it’s but natural that the Indian start-up ecosystem will be keen to associate with it.”

    However, there is a section of people who have not taken the news of BCCI & Dream11 association in the positive light because the latter has investments from Tencent Holdings, a Chinese investment firm.