Shapoorji Mistry seeks Tata Sons listing to monetize SP stake
Business
Shapoorji Mistry, who leads the Shapoorji Pallonji Group (SP Group), is pushing for Tata Sons to get listed on the stock market.
He thinks this could finally let SP Group cash in on its stake, which has been stuck due to heavy debt and company rules.
Plus, he hopes it might ease long-standing tensions between the two groups.
But Noel Tata isn't on board with this plan.
SP Group has over ₹60,000cr debt
With over ₹60,000 crore in debt, SP Group sees going public as a lifeline for its finances since its 18.37% stake in Tata Sons can't be sold easily right now.
The Reserve Bank of India has also told Tata Sons it must go public.
Meanwhile, Noel Tata has suggested buying back SP Group's shares instead.