Tata Trusts asks Tata Sons for alternatives after RBI denial
Business
Tata Trusts has asked Tata Sons to look at alternatives to going public, after the Reserve Bank of India (RBI) turned down Tata Sons' request to give up its core investment company status.
While the RBI says Tata Sons must comply with the guidelines and instructions applicable to a non-banking financial company in the Upper Layer, it does not actually require them to list on the stock market.
Tata Trusts worries listing shifts focus
Tata Trusts worries that a public listing could shift focus away from its mission and toward just making money.
Both the board and Tata Trusts want to find legal ways to keep their unique setup and their focus on philanthropy without having to go public.