The Shapoorji Pallonji Group has reiterated its call for clarity on the proposed listing of Tata Sons, with Shapoorji Pallonji Mistry urging the Reserve Bank of India (RBI) to provide a “decisive direction” on the matter.
In a detailed statement issued on Friday, Mistry emphasised that listing Tata Sons is not merely a regulatory requirement but a “necessary evolution” that would strengthen the group's governance framework. He noted that enhanced transparency, accountability, and stronger board oversight would reinforce the core values on which the Tata Group has been built.
Mistry further argued that no evidence-backed case has been presented so far to demonstrate that a public listing would harm the interests of the trusts or limit their ability to serve beneficiaries. On the contrary, he maintained that such a move would be in the broader public interest.
According to the statement, a listed Tata Sons would help unlock value for millions of retail shareholders while broadening the investor base. It would also create a more predictable and robust dividend stream for the Tata Trusts, thereby amplifying their philanthropic and social impact, particularly for the most vulnerable sections of society.
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Calling the listing a step towards long-term value creation, Mistry said it would align the group more closely with global standards of corporate governance. He added that compliance with RBI-mandated norms would ultimately strengthen the Tata Group's legacy of trust, integrity, and public purpose.
The SP Group also indicated that it remains engaged in constructive discussions with Tata Sons' leadership, aiming for an amicable resolution at the earliest. However, it underscored the need for regulatory clarity, expressing confidence that both the Government of India and the RBI will act decisively on the issue.
The statement comes amid conflicting opinions on listing from within the Tata ecosystem. According to media reports, Tata Trusts chairman Noel Tata is not in the favour of listing, while trustees Venu Srinivasan and Vijay Singh have backed the idea.
The issue could also be intertwined with the future of Tata Sons chairman N. Chandrasekaran. In February, Tata Sons Chairman N Chandrasekaran has sought a deferment of discussion on his reappointment during the board meeting due to the request from some directors. He further said that there will be no changes for the Tata Sons after the board meeting that was held on Tuesday.
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