The Hindu Business Line : Darashaw & Co picks up 51% stake in Tata Share Registry

AN 80-year old broking and investment banking house Darashaw & Company has acquired 51 per cent stake in Tata Share Registry for an undisclosed amount.

Under this new dispensation, Tata Share Registry will soon be called TSR Darashaw Ltd and will be converted into a `Total Solutions Repository', which will fully make use of the BPO/KPO space with an emphasis on the financial services.

It will eventually address the international markets too, said Mr Darashaw K Mehta, Managing Director of Darashaw & Co, at a news conference here.

With its experience in managed financial services, Darashaw will be better able to grow TSR in dimension that being its core business, observed Mr Kishore Chaukar, Managing Direcotor, Tata Industries Ltd.

He declined to comment on whether the Tata group will exit the business altogether. "We will address that as we go forward, right now it is too premature."

Currently, Tata Share Registry services four million customers and over 150 client companies, both including and outside the Tata group. It also has Web-enabled service for payroll benefits in the human resources BPO space, a fledging area in India, presenting a lot of opportunity for growth, said Mr Darashaw.

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