Construction and engineering major Shapoorji Pallonji Mistry Group Saturday came out in support of public listing of Tata Sons, which is the holding company of the Tata Group, saying it would play a “constructive role”.
“We firmly believe that listing this premier institution will not only uphold the spirit of transparency envisioned by its founding father, Shri Jamsetji Tata, but also strengthen trust among all stakeholders like employees, investors, and the people of India,” SP Group Chairman Shapoorji Pallonji Mistry said in a statement issued today.
The statement came at a time when a rift among Tata Sons board of directors has been reported over whether or not Tata Sons shall get publicly listed.
Any delay in a Tata Sons IPO would hurt the Shapoorji Pallonji Group, which has been trying to sell its 18.37% stake in Tata Sons, to reduce its debt. The debt-laden Shapoorji Pallonji Group has struggled to monetise its stake holding in Tata Sons, after the pandemic increased its financial troubles, the statement mentioned.
Mistry called for the RBI’s compliance timeline of September 30, 2025 for Tata Sons to be listed “under the “Upper Layer” classification “be viewed with the seriousness and sanctity that regulatory commitments deserve”.
“Our stance is guided by a simple yet profound belief that transparency is the truest form of respect for both legacy and the future,” SP Group Chairman said in the statement.
“As one of India’s oldest business houses, we have full faith in the Reserve Bank of India (RBI), a constitutional and autonomous body, to take decisions grounded in the principles of equity, justice, and public interest.”
Mistry’s reference to the RBI was regarding the RBI’s Scale-Based Regulatory Framework which stipulates that a Non-Banking Financial Company (NBFC) should not act in a manner detrimental to the interests of its investors.
“We trust that the September 30, 2025 compliance timeline under the upper layer classification as per the RBI classification of Tata Sons, will be viewed with the seriousness and sanctity that regulatory commitments deserve,” Mistry said, adding that “the public listing of Tata Sons is not merely a financial step but a moral and social imperative”.
Earlier, on Tuesday, Tata Group Chairman Noel Tata and Tata Motors Chairman, along with Tata Trusts Vice Chairman Venu Srinivasan and trustee Darius Khambata, had met Union Home Minister Amit Shah and Union Finance Minister Nirmala Sitharaman at the home minister’s residence. Reportedly, a firm message was conveyed by the central government to the Tata group’s leadership to restore stability at Tata Trusts and ensure that internal discord does not spill over to affect Tata Sons, which is the country’s most valuable business conglomerate.
Significantly, Tata Trusts has a decisive influence over Tata Sons through its 66% stake in it.