Tata Group is an Indian Multinational conglomerate company headquartered in Mumbai, Maharashtra, India. It encompasses seven business sectors: communications and information technology, engineering, materials, services, energy, consumer products and chemicals. Tata Group was founded in 1868 by Jamsetji Tata as a trading company. It has operations in more than 80 countries across six continents. Tata Group has over 100 operating companies with each of them operating independently. Out of them 32 are publicly listed. The major Tata companies are Tata Steel, Tata Motors, Tata Consultancy Services , Tata Power, Tata Chemicals, Tata Global Beverages, Tata Teleservices, Titan Industries, Tata Communications and Taj Hotels. The combined market capitalisation of all the 32 listed Tata companies was INR 8.4 Trillion as of July 2014. Tata receives more than 58% of its revenue from outside India.The Tata Group is owned primarily by various charitable trusts that maintain a majority stake in the holding company. The current chairman of the Tata group is Cyrus Pallonji Mistry, who took over from Ratan Tata in 2012. Tata Sons is the promoter of all key Tata companies and holds the bulk of shareholding in these companies. The chairman of Tata Sons has traditionally been the chairman of the Tata group. About 66% of the Equity of Tata Sons is held by philanthropic trusts endowed by members of the Tata family.The Tata Group and its companies & enterprises is perceived to be India's best-known global brand within and outside the country as per an ASSOCHAM survey. The 2009, annual survey by the Reputation Institute ranked Tata Group as the 11th most reputable company in the world. The survey included 600 global companies. The Tata Group has helped establish and finance numerous quality research, educational and cultural institutes in India. The group was awarded the Carnegie Medal of Philanthropy in 2007 in recognition of its long history of philanthropic activities. Wikipedia.
News Article | October 23, 2015
Three year-old MIT institute focuses on innovation for the developing world.Founded in 2012 as part of the MIT Energy Initiative, the Tata Center for Technology + Design is focused on developing solutions to the problems faced by communities in the developing world, particularly in India: access to electricity, the availability of clean water and affordable health care, sustainable housing in a time of rapid urbanization, and so on. On Tuesday, at the Solve conference, Ratan Tata, the chairman emeritus of Tata Sons (the holding company for the Tata Group, one of India’s largest industrial conglomerates), sat down with Robert Stoner, the director of the MIT Tata Center, to review the center’s first three years of activity and to look ahead to the next phase.
ONES TO WATCH: SunEdison bruised after roller-coaster year A year ago, US President Barack Obama and Indian Prime Minister Narendra Modi met in New Delhi with a handful of the world’s most powerful business leaders. Among them were the heads of Disney, Tata Group — and SunEdison.
Tracxn, a company that tracks and analyzes data about startups, has added entrepreneur Ratan Tata as an angel investor. Though the amount of new funding was undisclosed, Tata’s contribution is noteworthy because he is one of India’s most renowned businessmen. The former chairman of conglomerate Tata Group, Tata began investing in tech startups last year. His portfolio now includes Snapdeal, One97 Communications, Xiaomi, and Ola Cabs. Launched in 2013, Tracxn’s other investors include SAIF Partners and Sachin Bansal and Binny Bansal, the founders of Flipkart. Tracxn claims that its roster of clients, which includes venture capital firms like Andreessen Horowitz, Sequoia Capita, SoftBank, and Google Capital, has grown by 400 percent over the last year, while its staff of analysts has increased from 25 to 125. Tracxn, which aspires to be the “Gartner of startup data,” was founded by former Sequoia Capital analyst Neha Singh and former Accel Partners associate Abhishek Goyal, differentiates from other startup analytics firms by teaching clients about markets before taking a closer look at individual companies to help them identify potential investment opportunities.
News Article | April 29, 2016
One of India’s leading private sector power generation companies has announced plans to make renewable energy a major part of its operations. Tata Power, part of the famous Indian industrial conglomerate Tata Group, has announced plans to increase its share of renewable energy output from 20% to 35-40% by 2025. The company currently has an installed capacity of 9,156 MW, including 593 MW from wind energy and 60 MW from solar power projects. Tata Power hopes to increase its installed capacity to 20 GW by 2025. A 40% renewable energy share would mean 8 GW capacity. The company has recently increased its participation in solar power auctions. The company secured a project under the Domestic Content Requirement mode in an auction held in the state of Andhra Pradesh late last year. The company can source Indian-made modules from its subsidiary Tata Power Solar to meet the requirements for setting this project. The company successfully participated in the recent 500 MW solar power auction, which is part of a 2 GW solar power park project in the state of Karnataka. The company will develop 100 MW project in the state. Tata Power, which also runs one of the largest thermal power plants in India – Mundra Ultra Mega Power Project – has had regulatory issues with regards to coal-based power plants. The company had planned to import coal from Indonesia to increase the operational efficiency of the power plant. As the prices of Indonesian coal increased, Tata Power struggled to get regulatory approvals to increase the tariff. Last year, Tata Power announced the launch of Tata Power Renewable Energy Limited as a separate company that will own and operate all the renewable energy assets of the parent company. With tremendous improvements in regulatory and financial support for renewable energy development in India, Tata Power seems to have taken the right approach to increase the share of renewable energy in its power generation mix. Drive an electric car? Complete one of our short surveys for our next electric car report. Keep up to date with all the hottest cleantech news by subscribing to our (free) cleantech newsletter, or keep an eye on sector-specific news by getting our (also free) solar energy newsletter, electric vehicle newsletter, or wind energy newsletter.
News Article | October 29, 2015
American Tower Corporation (NYSE: AMT), Tata Teleservices Limited, and SREI Infrastructure Finance Limited announced that they, along with several other minority holders, have entered into a definitive agreement pursuant to which American Tower will acquire a 51% controlling interest in Viom Networks Limited (“Viom”). Viom currently owns and operates approximately 42,200 wireless communications towers and 200 indoor distributed antenna systems across India. The total cash consideration will be INR 76 billion. At closing, Tata Teleservices Limited will retain a part of its holding, with Macquarie SBI Infrastructure Investments Pte Limited, SBI Macquarie Infrastructure Trust and IDFC Private Equity Fund III retaining certain interests. Under the agreement, American Tower may acquire or be required to acquire all or a portion of the remaining 49% ownership stake in Viom. Additionally, the parties have agreed that, post-closing, American Tower’s existing Indian portfolio of approximately 14,000 towers will be merged with Viom, resulting in certain ownership adjustments. “With a population of nearly 1.3 billion people, rapidly growing smartphone penetration and limited fixed line infrastructure, India’s vibrant wireless industry is poised for a sustained period of network investment,” said James D. Taiclet, Jr., American Tower’s Chairman, President and Chief Executive Officer. “ATC India’s greatly expanded portfolio of towers will enable us to play a key role in providing the communications real estate essential to the deployment of advanced wireless technologies throughout the country and to support the Indian government’s Digital India Initiative.” Commenting on the transaction, Ishaat Hussain, Director, Tata Teleservices Limited, said “This partnership with ATC presents an opportunity for Tata Teleservices to leverage an enhanced infrastructure portfolio to better address the rapidly expanding market for next generation data services in India.” Sunil Kanoria, Chairman and Managing Director of Viom and Vice Chairman of SREI Infrastructure Finance Limited, noted that “We have built one of the best assets in the telecom tower space with robust cash flow stream, the highest tenancy ratio in the industry and a well-diversified tenant mix, besides creating a world class management team. We are pleased to have found a new management team for Viom, and believe that ATC is well positioned to continue to optimize these assets given its proven track record of success. From SREI’s perspective, the divestment of Viom will have a multi-fold impact for SREI improving profitability and will be accretive for both shareholders and SREI.” American Tower anticipates consolidating the full financial results for Viom after the closing of the transaction. During the quarter ended June 30, 2015, Viom generated the following annualized results: approximately INR 50 billion in rental and management revenue and approximately INR 21 billion in gross margin. In addition, as of September 30, 2015, Viom had approximately INR 58 billion of INR-denominated debt outstanding. American Tower expects the transaction to be immediately accretive to AFFO per share. Amit Sharma, American Tower’s Executive Vice President and President, Asia, added, “Through our joint ownership with the Tata Group of over 56,000 towers, American Tower will be strategically positioned to benefit from the leasing revenue growth opportunities that will come from the accelerating deployment of 3G and 4G technologies by all of the wireless carriers in the market.” American Tower intends to finance the transaction in a manner consistent with maintaining its investment grade credit rating. The transaction is subject to customary closing conditions and regulatory approval, and is expected to close in mid-2016. American Tower utilized Evercore and Kotak Investment Banking as financial advisors and Clifford Chance, AZB & Partners and Luthra & Luthra as legal advisors. Credit Suisse served as exclusive financial advisor to Viom and its shareholders. Cyril Amarchand Mangaldas served as legal advisor to Viom and its primary shareholders. American Tower, one of the largest global REITs, is a leading independent owner, operator and developer of multitenant communications real estate with a portfolio of approximately 97,000 communications sites. For more information about American Tower and this transaction, please visit the Company & Industry Resources portion of the “Investor Relations” section of our website, www.americantower.com. TTL is one of India’s leading mobile telecommunications service providers delivering mobile connectivity, content and services to consumers across the country. The company has been at the forefront of redefining the telecom experience in India, launching technologically advanced innovative products and services, playing an enabling role in simplifying consumer lives and expanding digital inclusion. TTL together with its associates has a pan-India presence across India’s 19 telecom circles. TTL offers integrated telecom solutions to its customers under the unified brand name Tata Docomo and operates its wireless networks on GSM, CDMA and 3G technology platforms. For details, visit www.tatateleservices.com. SREI is one of India’s largest private sector integrated infrastructure institutions, constantly and consistently delivering innovative solutions in the infrastructure sector. The company has been playing a significant role in nation-building for two-and-a-half decades, both in urban and rural India. SREI’s businesses include Infrastructure Project Finance, Advisory and Development, Infrastructure Equipment Finance, Alternative Investment Funds, Capital Market and Insurance Broking. SREI, headquartered in Kolkata, has a network of 86 branches. This press release contains statements about future events and expectations, or “forward-looking statements,” all of which are inherently uncertain. We have based those forward looking statements on management’s current expectations and assumptions and not on historical facts. Examples of these statements include, but are not limited to, statements regarding the proposed closing of the transaction described above, expected financial projections for the portfolio and the impact on our consolidated results, the expected cash consideration and the expected sources of funds to pay for the transaction described above. These forward-looking statements involve a number of risks and uncertainties. For important factors that may cause actual results to differ materially from those indicated in our forward-looking statements, we refer you to the information contained in Item 1A of our Form 10-K for the year ended December 31, 2014 under the caption “Risk Factors” and in other filings we make with the Securities and Exchange Commission. We undertake no obligation to update the information contained in this press release to reflect subsequently occurring events or circumstances. AFFO is a non-GAAP financial measure. For more information, see our Form 10-Q for the quarter ended June 30, 2015 under the captions “Management’s Discussion and Analysis of Financial Condition and Results of Operations – Non-GAAP Financial Measures” and “– Results of Operations.” Additionally, AFFO per share is a non-GAAP measure, and is defined as AFFO divided by the diluted weighted average common shares outstanding. First Published on October 24, 2015 3:20 am