Tata Sons shareholders have approved the company’s resolution to go private, reported the Economic Times.
The company also reportedly discussed giving voting rights to preferential shareholders at the annual general meeting.
Tata Trusts chairman Ratan Tata is the biggest holder of preference shares – about 10.5 lakh. The Mistry family, which holds 18.4 per cent stake in Tata Sons, owns 20,000 preference shares.
The holding firm of all group companies hopes to streamline decision-making by going from public to private.
This move will have a direct impact on Mistry group’s interests.
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