When Ratan Tata Rushed Through Mumbai’s Monsoon to Make a Personal Request to SEBI Chief During TCS IPO

In July 2004, during a heavy monsoon in Mumbai, Mr. Ratan Tata had just finished announcing the launch of Tata Consultancy Services (TCS) Initial Public Offering (IPO) at the Taj Mahal Hotel in Colaba. Despite the crowd of capital market experts and media members eager to speak with him, Mr. Tata expressed his desire to quickly meet the then SEBI Chairman, Mr. G N Bajpai, at SEBI’s Nariman Point office. As a young investment banker, I was tasked with arranging this meeting on short notice.

I had no idea why Mr. Tata wanted to meet the SEBI chairman so urgently, especially in such rainy conditions, just after a successful IPO announcement. When we arrived at the SEBI headquarters, the reason for the meeting pleasantly surprised me.

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Mr. Tata began by thanking SEBI for their support during the IPO process. Then, in his calm, deep voice, he made a special request: he wanted to give Mr. F C Kohli, the first CEO of TCS, one symbolic share of TCS as a gesture of appreciation for his contribution to building the company.

This experience taught me many important lessons early in my career. Mr. Tata, one of the most respected leaders in Indian industry, made it a point to personally acknowledge those who contributed to the Tata Group. Despite the heavy rain, he rushed to personally make a request that could have easily been made through a phone call or letter. His decision to lead this gesture himself showed his values and commitment.

Another act of humility was when the bankers who helped with the TCS IPO roadshow received handwritten letters of thanks from Mr. Tata. These small actions reflected his values of appreciation and respect for others, which made him a towering figure in the Indian corporate world.

Mr. Tata taught us that values create value. His words carried great weight in the business community. The Financial Times once called him “the elder statesman of India Inc,” a title that he truly deserved. Even in his younger days, Mr. Tata’s wisdom and humility were evident. On several occasions, I saw him driving into the US Club alone with his dogs, quietly spending time without disturbing anyone. If a golfer called out to him, Mr. Tata would politely step aside without any fuss. His simplicity, kindness, and care for others were always present in his actions.