Tata TD Waterhouse Securities (TTDWS), a joint venture of Tatas and TD Waterhouse Group is one of India’s leading distributors of mutual funds. At present, Tata Industries, Tata Finance and Niskalp hold 50.1 per cent of the shares and the balance 49.9 per cent is held by the TD Waterhouse Group.

The board of directors of Tata Investment Corporation at its meeting on July 26, 2004 has decided to acquire the 49.9 per cent stake of TDW Group in TTDWS at an appropriate price, subject to due diligence process. The company has informed the Stock Exchange, Mumbai (BSE) accordingly.

On completion of the process, the company will become a 100 per cent Tata company and its name will be changed later to reflect the exit of TDW Group. The company will continue its mutual funds distribution activity along with distribution and sale of other income products like bonds and debentures.