According to this article, only Tata motors spokesperson, PWC, Citi and Axis capital, all funded by Tata motors, feel it is fair deal 
The article says otherwise with these points…
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The retail investors and mutual funds are set to get a raw deal in the proposed conversion of Tata Motors DVR (differential voting rights) to ordinary shares.
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The public DVR holders and mutual funds will lose about ₹15,568 crore and ₹3,000 crore of economic value, while the promoters will gain 1.4 per cent economic share valued at about ₹5,000 crore, per the April 18 closing price.
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Post conversion, the promoters holding in Tata Motors will increase to 42.62 per cent from 41.23 per cent, while that of public will slip to 57.38 per cent from 58.77 per cent.
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Both type of shares have equal economic right and after accepting that DVRs have traded at sharp discount due to absence of proper market, the company has taken the market approach to ascertain higher weightage for ordinary shares, said Sivakumar R, a retail investor.
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Globally, the shares with reduced or no voting rights trade at premium or about the same price to ordinary shares. For instance, the class C shares of Alphabet (Google) with no voting rights trades at a premium to ordinary shares.
Anyway it is not very intelligent to cry over spilt milk. This is just a lesson learnt that Tata group is no Saint either.
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