Tata Sons board meeting deepens debate over mandatory IPO
Tata Sons is facing big questions about going public after a recent board meeting.
On May 26, Tata Trusts chairman Noel Tata asked company chairman N Chandrasekaran for his personal take on the IPO, but Chandrasekaran kept things vague and didn't commit either way.
The debate has been heating up, especially since the RBI now requires Tata Sons to list.
Tata Trusts unanimously oppose listing
The Reserve Bank of India recently labeled Tata Sons as an "upper-layer" NBFC, which means they're required to go public.
To meet this rule, Tata Sons has paid off over ₹20,000 crore in debt and even asked the RBI for an exemption.
Meanwhile, Tata Trusts strongly opposes the listing. They passed a unanimous resolution against it in July last year and on May 26 asked for updates on efforts to convince the RBI otherwise.