Murugappa Family Reaches Settlement with Vellayan Subbiah Exiting Cholamandalam Stake

Vellayan Subbiah, a member of the Murugappa family, has reached a settlement with other promoter branches to realign ownership within the Murugappa Group. The agreement, concluded after over two years of negotiations, involves Subbiah exiting his stake in Cholamandalam Investment and Finance while consolidating his holdings in Tube Investments of India and CG Power and Industrial Solutions. This realignment is part of a broader plan to divide the century-old conglomerate among three promoter factions while maintaining business continuity. Negotiations had faced challenges due to valuation differences and the turnaround of key businesses.