Tata Trusts has clarified that it has not agreed to the listing of Tata Sons and wants all available options to be examined before any final decision. The issue was discussed at the Tata Sons board meeting on September 17 after the Reserve Bank of India rejected the company’s request to surrender its regulatory registration.
Tata Trusts chairman Noel Tata said the board should explore alternatives instead of considering only a public listing. He also referred to the earlier decision taken in March 2024 to keep Tata Sons unlisted. Tata Trusts said its position has remained unchanged, with the major trusts also supporting the company’s unlisted status in 2025.
The RBI’s recent decision has brought the listing question back into focus. Tata Sons has said it will begin steps to comply with the applicable RBI rules. However, Tata Trusts wants the company to first study every possible route and present its findings to the board.
Tata Trusts and affiliated trusts hold around 66% of Tata Sons. The Shapoorji Pallonji Group holds around 18% and has been looking for ways to unlock value from its stake. A separate proposal involving possible monetisation of part of the SP Group’s stake is also being considered.
A separate Tata Sons board meeting is expected after the options are assessed, when the company will decide its next course of action.
