RBI rejects Tata Sons’ bid to stay private, directs listing

Tata Sons’ bid to relinquish its core investment company registration has been turned down by the Reserve Bank of India, pushing the Tata Group’s holding firm nearer to a public stock offering. Tata Trusts, the majority owner, aims to preserve the company’s private nature for sustained stewardship. In contrast, the Shapoorji Pallonji Group is advocating for a public float.