Mumbai, Oct. 20: Darashaw Holdings has acquired a 51 per cent stake in Tata Share Registry Ltd, a leading share registry and human resources business process outsourcing (BPO) firm wholly owned by the Tata group.

Two brothers ? Dara K. Mehta and Baman K. Mehta ? run Darashaw, an 80-year old financial services house.

After the takeover, the company will be named TSR Darashaw Ltd. It will woo foreign multinationals to use its registry services to maintain their shareholder rosters.

TSR Darashaw will become a total solutions repository for financial services and HR domains both at home and abroad.

Tata Industries managing director Kishor Chaukar will be the board chairman, with Dara K. Mehta as the vice-chairman.

Darashaw was the investment banker for old princely states, including the Nizam of Hyderabad.

“Matching philosophy, ethics and business values have brought the Tatas and Darashaw group together,” Chaukar Said. However, he refused to divulge the amount given by Darashaw to acquire the majority stake in Tata Share Registry.

Tata Share Registry managed records for over 150 companies, including a large number of Tata group firms. The company services 4.5 million shareholders, making it the second largest share registry firm after Karvy.