The Tata Group today announced having formed a new, wholly owned company to
undertake new activities in the financial services. The new entity, Tata Capital
Ltd, will be a wholly owned by Tata Sons Ltd, the holding company of the Tata
companies are Tata AIG Insurance, Tata Asset Management, which manages the Tata
Mutual Fund and Tata Investment Corporation. Tata Sons has a direct and substantial
holding in all these companies.
Capital will enter areas such as capital market services, merchant banking, housing
finance and private equity investments, assets and vehicle financing, retail finance
and other related areas.
businesses would be undertaken either in subsidiary companies or divisions of
Tata Capital, depending on regulatory requirements, the release said.
existing Tata companies in the financial services area would continue to remain separate
entities and function as at present.