Synopsis
Shapoorji Pallonji Group now supports a Tata Sons public listing. This backing follows a delayed stake sale intended for monetization. Discussions explored tax-efficient structures and cash proceeds over time. The group holds over eighteen percent of Tata Sons and seeks to monetize. A public listing offers market valuation and potential investor attraction.
IANS SP Group chairman Shapoor Mistry had publicly backed Tata Sons’ listing plan Mumbai: The Shapoorji Pallonji (SP) Group is backing a Tata Sons listing after a proposed 2.5% stake sale to monetise part of its holding was delayed, people familiar with the matter said. The SP Group, which owns about 18.37% of Tata Sons, had discussed the sale with Tata Trusts chairman Noel Tata, with a tax-efficient structure involving a bank or financial institution being explored.
The proposal stalled at Tata Sons and was formally taken to board only after the RBI’s directive brought a listing requirement into focus, the people said.
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The discussions focused on a limited stake sale rather than an immediate broader monetisation and the proposal envisaged cash proceeds being paid to the SP Group over a defined period, potentially allowing Tata Sons to avoid a listing, the people said. SP Group and Tata Trusts did not comment.
The last discussion on the matter with Tata Sons involved Noel Tata suggesting that separate teams from both sides be created to examine the monetisation proposal, the people said. The monetisation plan discussed earlier was being handled by Farokh Subedar on behalf of Tata Trusts, Ankur Verma representing Tata Sons, and a representative from the SP Group, sources said.
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SP Group chairman Shapoor Mistry had publi
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