Shapoorji Pallonji Group for public listing of Tata Sons

The Shapoorji Pallonji Group, a major shareholder in Tata Sons, strongly supports the public listing of Tata Sons as mandated by the Reserve Bank of India (RBI). In a statement, Shapoorji Pallonji Mistry emphasized that the public listing is not just a financial or regulatory issue, but a social and moral imperative. It is about enhancing transparency and public accountability, which is central to the Tata legacy.

The Shapoorji Pallonji Group owns approximately 18.4% of Tata Sons, and has a century-long history with the Tata Group. However, this stance is opposed by Tata Trusts Chairman Noel Tata, who is also Aloo Mistry's husband, a Shapoorji Pallonji Group relative. The Tata Trusts hold a 66% stake in Tata Sons. Despite this opposition, the Board of Tata Sons voted in favor of the public listing.

The RBI rejected Tata Sons' request to surrender its Non-Banking Financial Company (NBFC) license and classified it as an Upper-Layer NBFC, requiring a public listing. The Shapoorji Pallonji Group acknowledged this decision in the context of the company's recent Rs 21,500 crore refinancing, with an outstanding Rs 3,500 crore payment due by the end of September.

They dismissed concerns of a rift with the Tata Group, viewing the decision as a bridge to bring stakeholders together, guided by the shared philosophy of enterprise, trust, and responsibility in building institutions in India. The group believes this should shape the future of Tata Sons, focusing on strengthening, transparency, accountability, and national service.