The Shapoorji Pallonji Group, primarily engaged in real estate, is the largest shareholder of Tata Sons. Who is Rohiqa Mistry?
Forbes has reported that Rohiqa Mistry is among the three women who became billionaires in India in 2023. Her net worth is 7 billion dollars, which is around Rs 56000 crore, and she is the second richest woman in India. The richest woman in India is Savitri Jindal with a wealth of 17 billion dollars, while Rekha Jhunjhunwala is third on the list. Saroj Rani Gupta and Jhunjhunwala are the other two women who made it to the billionaire list for the first time.
Rohika Mistry is the daughter of veteran lawyer Iqbal Chagla and the wife of Cyrus Mistry, who died in a car crash. Pallonji Mistry, her father-in-law, had also passed away a few weeks before.
Pallonji Mistry had two sons, Shapoor Mistry, and Cyrus Mistry. Unfortunately, Cyrus died in a car crash in Maharashtra’s Palghar district just a few weeks after his father’s death in June of the previous year.
Rohika Mistry and her husband were married for more than thirty years, having tied the knot in 1992. They have two sons named Zahan Mistry and Firoz Mistry.
She hails from a family of prominent lawyers, and her brother, Riyaz Chagla, became a judge in the Bombay High Court in 2017.
Her grandfather, MC Chagla, was a cabinet minister in the Congress government and served as the Chief Justice of the Bombay High Court.
The Shapoorji Pallonji Group is the biggest shareholder of Tata Sons and mainly deals with real estate. Ratan Tata holds the position of chairman emeritus in Tata Sons.
Recently, the company planned to raise $1.75 billion by pledging the remaining half of its stake in the unlisted holding company of Tata Group to reduce its debt. They have already pledged 9% of their 18.37% stakes in Tata Sons. The SP group is mainly owned by family members and their total loan against Tata Sons shares will exceed $3 billion. Pallonji Mistry formed the group in 1865, which has interests in real estate, construction, infrastructure, and construction.
The group and the Tatas were previously close partners, but their relationship turned sour after Cyrus Mistry was ousted as the chairman of Tata Sons in 2016, leading to a courtroom battle between the two groups. Nevertheless, they continued to be business partners until Mistry’s passing in 2022.