Mistry firm on listing Tata Sons

New Delhi: SP Group Chairman Shapoor Mistry, brother of Cyrus Mistry, on Friday reiterated calls for public listing of Tata Sons to bring transparency, amid infighting among trustees of the trust that controls the holding company of the salt-to-software conglomerate.

In a statement, Mistry called for the RBI’s compliance timeline of September 30, 2025, for Tata Sons to be listed ‘under the Upper Layer’ classification be viewed with the seriousness and sanctity that regulatory commitments deserve. The Shapoorji Pallonji Group has consistently advocated the public listing of Tata Sons, Mistry said.

Shapoorji Pallonji family owns about 18.37 per cent of Tata Sons. The SP Group has been looking at leveraging its shareholding in Tata Sons to raise funds and pare its debt. Tata Trusts hold a 66 per cent stake in the promoter and holding company of the Tata Group.

“We firmly believe that listing this premier institution will not only uphold the spirit of transparency envisioned by its founding father, Shri Jamsetji Tata, but also strengthen trust among all stakeholders -- employees, investors, and the people of India,” he noted.

He further said, “Our stance is guided by a simple yet profound belief - Tansparency is the truest form of respect for both legacy and the future.” As one of India’s oldest business houses, he added, “We have full faith in the Reserve Bank of India, a constitutional and autonomous body, to take decisions grounded in the principles of equity, justice, and public interest.”

The RBI’s Scale-Based Regulatory Framework clearly articulates that a Non-Banking Financial Company (NBFC) should not act in a manner detrimental to the interests of its investors, Mistry noted.