Shapoorji Pallonji Group Pushes For Listing Of Tata Sons; Calls For 'Transparency and Governance'

The Shapoorji Pallonji (SP) Group on Friday reiterated its long-standing demand for the public listing of Tata Sons, calling it a step essential for “transparency, fairness and good corporate governance.” The statement comes amid ongoing discussions surrounding the internal matters of Tata Trusts, the principal shareholder in Tata Sons.

Emphasising that transparency is “the truest form of respect for both legacy and the future,” the SP Group said a listing would strengthen stakeholder trust and uphold the founding values envisioned by Jamsetji Tata. “We firmly believe that listing this premier institution will not only uphold the spirit of transparency envisioned by its founding father but also strengthen trust among employees, investors, and the people of India,” the company said.

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The Group expressed confidence in the Reserve Bank of India (RBI) to act “in accordance with the rule of law and the spirit of fairness” as Tata Sons falls under the regulator’s “Upper Layer” Non-Banking Financial Company (NBFC) classification. It noted that the RBI’s framework requires such entities not to act in ways detrimental to investor interests and cited the 30 September 2025 compliance deadline as a key regulatory milestone.

Calling the listing a “moral and social imperative,” SP Group said the move could unlock value for over 1.2 crore shareholders of listed Tata companies, who are indirect stakeholders in Tata Sons. It added that a publicly listed Tata Sons would also enable Tata Trusts, one of India’s largest charitable entities, to benefit from a more equitable dividend policy, thereby enhancing its philanthropic outreach.

“Our position is not in conflict, but completely in consonance, with the ideals of Shri Jamsetji Tata,” the group said, reaffirming its historic relationship with the Tata conglomerate. “We remain fully committed to playing a constructive role alongside Tata Trusts and Tata Sons in shaping a future that upholds the legacy of both our founding families.”

Founded in 1865, Shapoorji Pallonji and Company Pvt. Ltd. is one of India’s oldest business houses with operations spanning construction, infrastructure, real estate, energy, and financial services across 35 countries