IDRO is a major shareholder in giant automotive conglomerate, Iran Khodro. One of Iran KhodroIran Khodro’s shareholders is Negar Nasr, a Company affiliated with the Basij. While it seems that it only holds 5.5% of Iran Khodro’s shares, Negar Nasr’s, Mr. Mahmoud Robab Esmaeili, on behalf of the Negar Nasr as a managing Director, is acting as a member of the Board in Sepehr Kish Investmentis. This means that Negar Nasr’s is a major player in Iran Khodro able to influence the inner workings of Iran Khodro, well beyond the 5.5% of shares they own.

Iran Khodro shareholders (Based on the latest information found in the Tehran Stock Exchange’s website (August 2017) and Iran Khodro latest annual report from March 2017):

Shareholder’s Name% of OwnershipInfo
Tadbir Arad Investing Company15.23%Tadbir Arad is owned by Crouse Company. The latter purchased the controlling share of the Bahman Group on June 2016, in what seems to be a move by the IRGC to exit the fledgling Iranian automotive industry
IDRO14.02%IDRO’s shareholding is divided into two parts. One of 12.29% and the other holds an additional 1.73% of Iran Khodro’s shares
Samand Investment Company10.24%Part of the Iran Khodro Group
Sepehr Iranian Kish Trading Company10.59%Like IDRO, Sepehr Kish’s shareholding is divided into two parts. One of 7.6% and an additional one of 2.99%
Negar Nasr Company5.5%Negar Nasr Company is controlled by the Bonyad Ta’avon Basij – Organization that is affiliated with the IRGC
National Pension Fund4.98%Ministry of Welfare Social Security
Iran National Investment Company4.3%
National Pension Fund Investment Company3.03%
Bank Pasargad Financial Group1.93%
Saba Tamin Investment Company1.93%Ministry of Energy

Source » Terhan Stock Exchange Website (August 2017)