Tata Sons feud deepens as SP Group eyes $2.6bn stake exit

Tata Sons’ long-running boardroom feud is back in the spotlight this week, with Tata Trusts revealing that Shapoorji Pallonji (SP) Group is weighing a $2.6 billion sale of its Tata Sons stake as the two sides continue to clash over the conglomerate’s structure and planned IPO.

The disclosure comes days after Tata Sons’ board reappointed N. Chandrasekaran to a fresh five-year term as chairman and cleared the long-awaited IPO – moves that drove a rally in Tata group shares, even as SP Group’s own funding squeeze persists amid the uncertainty.

And in other news this week: 

• Advent International agreed to invest ₹3,150 crore for a 24.9% stake in Yatharth Hospitals, 
• Samvardhana Motherson’s Adsys Tech arm won approval to acquire 50.1% of Rotary Connectors for ₹500 crore
• Stellantis took full ownership of its Thiruvallur plant by buying out CK Birla Group’s remaining stake.

Thanks for reading, and connect with me on LinkedIn if you want to discuss how I can help with your next M&A deal.

---

---

Have you ever been surprised by a VDR bill?

One M&A advisor recently received a €90,000 invoice from his virtual data room provider, nearly four times the original quote. We suspect he’s not alone.

We’re surveying dealmakers across the M&A Community to find out how common hidden VDR costs really are. Share your experience in just two minutes. 

As a thank you, everyone who takes part will be entered into a prize draw for a $150 Amazon voucher. All responses are confidential.

[Take the survey]

---

Weekly summary | September 17-24, 2026

This week’s headline isn’t a single transaction, but the escalating battle for control of Tata Sons. 

Tata Trusts revealed that Shapoorji Pallonji (SP) Group is weighing a $2.6 billion sale of its entire Tata Sons stake, as its long-running feud with the Tata Trusts-controlled board shows no sign of easing. 

Elsewhere, Advent International agreed to invest ₹3,150 crore for a 24.9% stake in Yatharth Hospitals, Samvardhana Motherson’s Adsys Tech arm won approval to acquire 50.1% of Rotary Connectors for ₹500 crore, and Stellantis took full ownership of its Thiruvallur plant by buying out CK Birla Group’s remaining stake. 

Goldman Sachs and AT Trade Overseas picked up a stake in Lord’s Mark Industries, and Thyrocare agreed to sell its Nuclear Healthcare radiology arm to Trovera Healthcare for ₹141.4 crore.

It was also a bumper week for India’s IPO market. Tata Sons’ own listing clearance was the standout, but SS Retail, Jindal Supreme and Karamtara Engineering all made strong stock-exchange debuts, while Spinny confidentially filed for an IPO and Snapdeal parent AceVector pursues a $182 million listing. 

On the fundraising side, Brahma AI raised $150 million at a $2 billion valuation, and Brookfield agreed to invest up to $600 million in ACME’s green fuels business.

---