Bihar-Born Tata Veteran Offloads Entire Stake In Tata Sons After Spending Nearly 4 Decades At The Company

Tata Sons, as the parent company of the Tata Group, holds the majority of shares in its companies, along with extensive land holdings across India. It is also the promoter for the Tata Group of companies.

Interestingly, seven philanthropic trusts hold the company’s majority shareholding, including the Sir Dorabji Tata Trust, the Sir Ratan Tata Trust and the RD Tata Trust among others. Altogether, they own over 65% of the company.

Among the company’s preference shareholders, Ratan Tata holds nearly 50% of the company, and in the past year, the list of preferential shareholders has seen one major exit.

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Ishaat Hussain offloaded his entire 2.05% stake in the company as of financial year ended March 2024, data shows. As of March 2023, Hussain, along with his daughter Shameem, held 55,000 shares in the company but by the end of the upcoming year, they diluted their entire shareholding.

Born in Bihar, he was often known as the "Nawab" among his acquaintances. He finished his schooling from The Doon School in Dehradun before earning a bachelor’s degree in economics from St Stephen’s College, Delhi. Later, he pursued an Advanced Management Program at Harvard Business School.

Hussain worked as a chartered accountant for seven years, before joining the Tata Group in 1981. In his 36 years of career, he has worn many hats, be it as the director at Tata Sons and Tata Steel or the chairman of Voltas or Tata Sky.

Throughout his tenure at the company, Hussian has worked alongside JRD Tata, Ratan Tata, Cyrus Mistry and N Chandrasekaran, until he stepped down in 2017.

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