Tata Sons Backed for Listing by Second-Largest Shareholder
The Shapoorji Pallonji Group has backed a potential public listing of Tata Sons. The move follows regulatory rules requiring the holding firm to list. The group owns an 18.4 percent stake in the Indian conglomerate.
Shapoorji Pallonji Group backed a potential public listing of Tata Sons on Friday morning, bringing the second-largest shareholder behind a move that could reshape ownership in India's sprawling conglomerate. The endorsement follows a regulatory push from the Reserve Bank of India requiring the holding company to pursue a public offering. The restructuring gives minority stakeholders an avenue to monetize their stakes as the group navigates long-standing boardroom disputes.
