Shapoorji Pallonji Mistry Backs Tata Sons Listing After RBI Move.

SP Group sees a public listing as a potential step toward greater transparency and accountability.

Shapoorji Pallonji Group Chairman Shapoorji Pallonji Mistry has welcomed the Reserve Bank of India’s decision regarding Tata Sons, saying the development could mark an important moment for transparency, accountability and institution-building. Mistry said Tata Sons had been classified as an Upper-Layer NBFC under the RBI’s Scale-Based Regulatory Framework, under which such entities have a prescribed listing route. He also noted that the RBI’s rejection of Tata Sons’ request to surrender its registration provides greater clarity on the regulatory path ahead. The statement comes amid an ongoing dispute over N. Chandrasekaran’s reappointment as Tata Sons chairman. The board approved his reappointment by a 4–1 vote, while Tata Trusts Chairman Noel Tata has challenged the validity of the proceedings. Mistry said a public listing could strengthen transparency, governance and accountability at Tata Sons while supporting the philanthropic objectives associated with Tata Trusts. The developments could have significant implications for the future governance and ownership structure of the Tata group’s holding company.