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.
