RBI keeps Tata Sons as upper layer CIC pending review
Business
The Reserve Bank of India (RBI) has decided that Tata Sons will stay classified as an upper-layer core investment company (CIC), even though Tata Sons asked to give up this status in FY24 because of new listing rules.
The RBI is still reviewing their request, so for now, nothing changes.
Tata Sons ₹1.75L/cr exceeds cutoff
Tata Sons easily crosses the RBI's cutoff for this category, with assets worth ₹1.75 lakh crore, well above the ₹1 lakh crore mark.
Other Tata companies like Tata Industries and Tata Capital Housing Finance are in a lower tier that doesn't require listing.
Meanwhile, there's ongoing debate inside the group about whether or not to list Tata Sons on the stock market, but no final call yet.