The group’s financial services units include Tata Capital Ltd and Tata Asset Management Ltd.“The talks are currently at an exploratory stage," said one of the two people cited above. Emails sent to spokespeople for Tata Sons and Tata Capital remained unanswered until press time on Monday. However, the combined contribution of financial services towards Tata Sons’ profitability has remained modest. On the asset management side, Tata Asset Management Ltd, the company that runs Tata Mutual Fund, is jointly sponsored by Tata Sons and Tata Investment Corp. Ltd. Tata Sons’ decision to sell stakes in some of its financial services businesses is part of a wider industry phenomenon to monetize ownership in financial services businesses.

Source: Mint March 22, 2021 18:11 UTC