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Shapoorji Pallonji&nbsp;Group is parting with it's 'family jewel' in the consumer pack as it sells Eureka Forbes to&nbsp;PE group Advent for Rs 4,400 cr.&nbsp;
Eureka Forbes a loss-making business, is a subsidiary of listed Forbes &amp; Co. As per the agreement it will be demerged from the company and will be listed separately.&nbsp;
The Tata's were the original owners of the Forbes firm which the the Pallonji family had bough&nbsp;almost two decades ago. With over 20 million customers&nbsp;Eureka Forbes is among the largest vacuum cleaner and water purifier brands in India.&nbsp;
The deal will help Shapoorji group pare its Rs 20,000 crore&nbsp;out of which nearly Rs 11,000 cr is under Covid-19 relief program provided by the RBI.&nbsp;The Shapoorji Pallonji&nbsp;Group currently has Rs 10,900 crore&nbsp;as debt.&nbsp;

Eureka Forbes sold for Rs 4,400 cr by Shapoorji Pallonji Group to PE firm Advent Group

Tata to&nbsp;Eureka Forbes, says&nbsp;Shapoor Pallonji Group as it sells iconic consumer brand&nbsp;for Rs 4,400 cr byo PE firm Advent Group

Tata to Eureka Forbes

<ul>
<li>Shapoorji Pallonji Group sells consumer brand Eureka Forbes to reduce debt&nbsp;</li>
<li>Advent Group acquires Eureka Forbes for Rs 4,400 cr from Cyrus Mistry&nbsp;led group&nbsp;</li>
<li>Eureka Forbes a loss-making business, is a subsidiary of listed Forbes &amp; Co</li>
<li>Eureka Forbes was originally owned by the Tata&nbsp;Group over twenty years ago&nbsp;</li>
<li>Eureka Forbes to be listed on the stock exchanges post demerger&nbsp;</li>
<li>Shapoorji Pallonji Group currently has over Rs 20,000 cr in debt</li>
</ul>

Eureka Forbes Ltd (EFL), a 100% subsidiary of Forbes &amp; Company Ltd will be demerged into a standalone company and then be listed on the BSE

Shapoorji Pallonji&nbsp;Group is parting with it's 'family jewel' in the consumer pack as it sells Eureka Forbes to&nbsp;PE group Advent for Rs 4,400 cr.&nbsp;
Eureka Forbes a loss-making business, is a subsidiary of listed Forbes &amp; Co. As per the agreement it will be demerged from the company and will be listed separately.&nbsp;
The Tata's were the original owners of the Forbes firm which the the Pallonji family had bough&nbsp;almost two decades ago. With over 20 million customers&nbsp;Eureka Forbes is among the largest vacuum cleaner and water purifier brands in India.&nbsp;
The deal will help Shapoorji group pare its Rs 20,000 crore&nbsp;out of which nearly Rs 11,000 cr is under Covid-19 relief program provided by the RBI.&nbsp; The Shapoorji Pallonji&nbsp;Group currently has Rs 10,900 crore&nbsp;as debt.&nbsp;

As per The Mint, internal calculations at Tata Sons is pegging the equity value of the salt to software conglomerate at $70 billion.
By this calculation the share of the Shapoorji Pallonji group at 18.4% stands at $12.84 billion or&nbsp;₹94,000 crore. This figure though higher than the initial Rs70,000 cr offered by Tata Sons is still much lower than the Rs 1.7 lakh crore the SP group had demanded&nbsp;
Sources have told Mint that bankers have worked with Tata Group to arrive at this valuation which will be key in finalising the separation plan which still hangs in a limbo.&nbsp;

What’s Mistry’s stake worth? A peek into Tata’s internal calculations 

What&rsquo;s Mistry&rsquo;s stake worth? A peek into Tata&rsquo;s internal calculations shows a valuation gap of over Rs 70,000 cr between the Tata's&nbsp;math and. the SP Groups' demands.

<ul>
<li>Reports indicate Tata's internal valuation pegs equity value of Tata&nbsp;Sons @ $70 billion</li>
<li>As per Tata's&nbsp;internal calculation SP Group stake worth Rs 94,000 cr&nbsp;</li>
<li>Valuation of over RS 70,000 cr between Tata&nbsp;and SP group demands</li>
<li>SP Group stake value left undecided by Supreme Court verdict</li>
</ul>

As per The Mint, internal calculations at Tata Sons is pegging the equity value of the salt to software conglomerate at $70 billion.
By this calculation the share of the Shapoorji Pallonji group at 18.4% stands at $12.84 billion or&nbsp;₹94,000 crore. This figure though higher than the initial Rs70,000 cr offered by Tata Sons is still much lower than the Rs 1.7 lakh crore the SP group had demanded&nbsp;
Sources have told Mint that bankers have worked with Tata Group to arrive at this valuation which will be key in finalising the separation plan which still hangs in a limbo.&nbsp;

'Time to say Tata, bye-bye': Mistry family

Shapoorji Pallonji&nbsp;Group has announced to sell its 18.37% stake in Tata&nbsp;Sons, ending a 70-years relationship

'Time to separate from Tata': Mistry family

Shapoorji Pallonji&nbsp;Group, the largest minority shareholder with 18.37% stake in Tata Sons, on Tuesday said it is 'time to separate from Tata'&nbsp;to end a relationship that has spanned over 70 years.
The Shapoorji Pallonji group&rsquo;s decision came soon after the Tata group on Tuesday told the Supreme Court that it was ready to buy the Mistry family&rsquo;s stake in Tata Sons at the current market value.
The SP Group and Tatas have been engaged in a bitter legal battle ever since Cyrus Mistry was sacked as Chairman of Tata Sons in October 2016.

shapoorji pallonji

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