RBI tells Tata Sons to list, surprising Noel Tata
The Reserve Bank of India, or RBI, has told Tata Sons it needs to become a publicly listed company, a move that surprised Chairman Noel Tata.
As head of Tata Trusts, which owns most of Tata Sons, he now faces the tricky task of figuring out how to keep control.
Despite pushing for an exemption, the RBI still sees Tata Sons as a major financial player that must follow these rules.
Tata Sons board considers term extension
This Thursday, the board will meet to discuss how to handle the new listing requirement.
One idea on the table is extending Chairman Chandrasekaran's term past February 2027 for some stability, which is important with big projects like their semiconductor plans and Air India's revamp underway.
If Tata Sons does go public, it could also help Shapoorji Pallonji Group sell its stake and ease its debt load.