Noel Tata reluctant on Tata Sons IPO despite RBI rules
Tata Sons just held a pretty crucial board meeting in Mumbai, with big names like Noel Tata and N Chandrasekaran at the table.
The main topic? Some tough financial challenges and disagreements on where the group is headed.
Noel Tata is reportedly reluctant to take Tata Sons public through an IPO, even though Reserve Bank of India rules say top finance companies should list.
Unlisted Tata firms face 10,905cr losses
The group's unlisted businesses are facing major losses: ₹10,905 crore in FY25 (financial year 2024-25), expected to go up to ₹29,000 crore.
Noel Tata voiced worries about new ventures like Tata Digital and the electronics ventures that launched under Chandrasekaran's leadership.
Interestingly, talk about reappointing Chandrasekaran wasn't likely on the agenda, hinting at possible changes in who's running things.
Plus, Noel's son Neville has already been appointed to several group trusts, so leadership moves might be coming up.