SP Group Chairman Renews Tata Sons Listing Push

Shapoorji Pallonji Mistry, chairman of the SP Group, renewed calls on Friday for the public listing of Tata Sons, the holding company of the Tata conglomerate, describing the move as essential for enhancing corporate governance and transparency amid regulatory pressures from the Reserve Bank of India.

The SP Group, which holds an 18.4 percent stake in Tata Sons as its largest minority shareholder, has long advocated for the listing. Mistry's statement emphasizes that the step goes beyond mere compliance with RBI rules and represents a necessary evolution for the group. "A timely listing of Tata Sons is not merely a regulatory compliance but a necessary evolution," Mistry said. "One that will reinforce corporate governance, deepen transparency and accountability."

Tata Sons was classified as an upper-layer non-banking financial company under the RBI's scale-based framework in September 2022, requiring a public listing by September 30, 2025, to ensure oversight of systemically important entities. The company missed the deadline and has sought to surrender its NBFC registration by reducing debt and restructuring its balance sheet. However, recent RBI disclosures still list it in...