SP Group backs Tata Sons listing after RBI directive
Business
The Shapoorji Pallonji Group (SP Group), which owns 18.37% of Tata Sons, is now backing Tata Sons's listing.
Its original plan to sell a smaller stake got delayed, after the proposal stalled at Tata Sons, following the Reserve Bank of India's directive that brought a listing requirement into focus.
Listing could ease SP Group debts
Listing Tata Sons could finally let SP Group cash in on its huge stake and help it manage its debts more easily.
With big repayments coming up and earlier plans not working out, going public could open up new ways for SP Group to attract investors and strengthen its finances.