SP Group backs Tata Sons listing, bolstering board’s push despite Trusts’ opposition

NEW DELHI: (Sep 18) Shapoorji Pallonji Group, the second-largest shareholder in Tata Sons, on Friday backed a public listing of the holding company of the Tata Group’s sprawling salt-to-software, automobiles and aviation businesses, adding weight to the board’s push for a listing despite opposition from the Tata Trusts.

Shapoor Mistry, chairman of Shapoorji Pallonji (SP) Group, which owns about 18.4 per cent of Tata Sons, said a listing would strengthen transparency and public accountability at one of India’s most consequential business institutions.

His comments mark a clear public endorsement of the listing by one of Tata Sons’ key shareholders at a time when the proposal has exposed differences between the company’s board and the charitable trusts that control it.

Source: PTI News

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