Shapoorji Pallonji Group Pushes For Tata Sons’ Listing, Expects RBI To Act

The Shapoorji Pallonji Group has pushed for the listing of Tata Sons, the holding entity of the salt-to-software conglomerate Tata Group. In a statement issued on Friday, it said the deadline imposed by the RBI for the listing should be taken seriously.

The Reserve Bank of India's "upper layer" classification for Tata Sons, issued in September 2022, required the company to be mandatorily listed by September 2025. Even though the deadline to list has passed, no clarity on the future of the listing has been clarified yet. 

"We trust that the 30th September 2025 compliance timeline under the 'Upper Layer' classification will be viewed with the seriousness and sanctity that regulatory commitments deserve," the SP Group said.

The SP Group, which holds 18.4% stake in Tata Sons, expects the RBI "will act, as it always has, in accordance with the rule of law and the spirit of fairness."

Notably, Tata Sons' listing will provide an opportunity to SP Group to liquidate its stake. To be sure, the Mumbai-headquartered conglomerate cannot sell Tata Sons' stake in the open market, as the Tata Group's nod is required to conduct such a transaction.

Tata Trusts, the major stakeholder in Tata Sons, stands to "benefit immensely" from this listing, according to SP Group.

"A transparent and publicly accountable Tata Sons would pave the way for a robust and equitable dividend policy, thereby ensuring sustained inflows to the Trusts," it said.

These funds can then be dedicated to the welfare of the poor, the upliftment of communities, and the "service of our great nation", the statement further said.

SP Group believes that Tata Sons' public listing is not merely a financial step, but a "moral and social imperative". The move will unlock "immense value" for over 1.2 crore shareholders of listed Tata companies, who are indirect shareholders of Tata Sons, it noted.