Tata Sons, the primary investment holding company for Tata Companies, has 66% of its equity share capital held by philanthropic trusts. Yet, there is a unique figure who owns a single share in this multibillion-dollar corporation — Virendra Singh Chauhan, a member of Gujarat's royal family.
A few years ago, a shareholder list revealed that Virendra Singh Chauhan, officially known as Maharawal Virendrasinhji Chauhan, once the king of Chota Udaipur in Gujarat, held one share in Tata Sons. As of March 2023, this share remains in his name. After he died in 2005, his heirs have laid claim to this prized share.
Back in the 1980s, Maharawal Virendrasinhji Chauhan was allocated 12 or 13 shares in Tata Sons, reportedly due to his close friendship with JRD Tata, a former chairman of Tata Group. His son, Jai Pratap, mentioned that he wasn’t aware of the exact details, but it may have been connected to an internal reorganization within Tata Sons.
In unlisted companies like Tata Sons, it is not unusual to involve trusted individuals in holding shares.
Jai Pratap also shared that in 1998, Maharawal Virendrasinhji Chauhan sold most of his Tata Sons shares to fund a garment manufacturing venture in Bengaluru, but he chose to keep one share, preserving his rare status as a Tata Sons shareholder.
Maharawal Virendrasinhji Natwarsinhji Chauhan, a descendant of the legendary Prithviraj Chauhan, ascended the throne at just 11 years old after his father’s death in 1946. He was educated at Daly College in Indore and became a director of National Ekco, a Tata company, in 1962 at the age of 25. He later joined the Tata Mills Board of Directors under Naval Tata, father of Ratan Tata.
Known for his influential role, Maharawal Virendrasinhji Chauhan received a privy purse of Rs 212,000 annually. His friendship with JRD Tata led to the allotment of shares, a testament to the deep trust and relationship between them.
The legacy of Maharawal Virendrasinhji Chauhan as a Tata Sons shareholder remains a fascinating piece of history, symbolizing the bond of respect and loyalty shared with one of India’s most iconic business empires.
