RBI files Bombay High Court caveat on Tata Sons listing
The Reserve Bank of India (RBI) has filed a caveat in the Bombay High Court, making sure it gets a say before any decisions are made about Tata Sons possibly going public.
This comes right after the RBI turned down Tata Sons's request to voluntarily surrender its Certificate of Registration (CoR) so it could be classified as an unregistered Core Investment Company (CIC).
Shareholders split over Tata Sons listing
Tata Sons is under strict rules as a major financial player, with total assets of ₹2.01 lakh crore.
The Shapoorji Pallonji Group, which owns an 18.37% stake in Tata Sons, wants the company listed to unlock value.
But Tata Trusts, holding a majority stake, isn't on board and is exploring a mutually acceptable solution with the Shapoorji Pallonji Group for monetisation of its stake rather than taking the holding company public.
The RBI's move shows it wants to keep regulatory oversight front and center while this high-stakes debate plays out.