The group will sell as much as 30 per cent in the solar engineering arm of Sterling & Wilson Pvt.
Tata Sons is in talks with the government about a potential haircut to state-run banks on Jet’s loans as part of the plan, while Airports Authority of India may forgo some of its dues.
Women made up 14.7% of board membership at Singapore’s top 100 listed companies and 13.8% for the 50 members of Hong Kong’s Hang Seng Index.
The company helmed by billionaire Anil Ambani is negotiating with two investors who are conducting due diligence.
The US investment firm and the Indian financial services provider are expected to deploy this sum over three years
The deal is part of a broader pact to sell most of its wireless assets to Reliance Jio.
Mistry, who derives an estimated $16.7 billion of his fortune from his 18.4% equity in Tata Sons, can no longer sell those holdings without the approval of a board his family has been fighting for two years.
Ambani has added $4 billion to his fortune this year as Reliance doubled its petrochemicals capacity and investors cheered the success of his disruptive telecom upstart Reliance Jio Infocomm Ltd.
Its latest plan extends a strategy of raising cheaper debt, riding on its better-than-sovereign ratings, while also actively investing about $12 billion in reserves to generate returns.
India’s top wireless operator plans to raise as much as $1.5 billion by listing a quarter of equity in its Africa unit by early 2019 in either London or South Africa.