3 min readMumbaiApr 11, 2026 06:07 AM IST
First published on: Apr 11, 2026 at 06:07 AM IST
Close on the heels of Tata Trusts trustees Venu Srinivasan and Vijay Singh, the Shapoorji Pallonji (SP) group which holds over 18% stake in Tata Sons has come out demanding listing of the Tata group holding company on the stock exchanges as it will “reinforce corporate governance, deepen transparency and accountability”.
“As I have stated earlier, we would like to reiterate that a timely listing of Tata Sons is not merely a regulatory compliance but a necessary evolution. To date, no clear, evidence-based case has been presented to explain how a public listing would materially damage the interests of the trusts or reduce their ability to serve beneficiaries,” Shapoorji Pallonji Mistry, Chairman of the SP group said on Friday.
“A publicly listed holding company strengthens board accountability, broadens the investor base, and secures long-term value for all stakeholders,” Mistry said. The SP group was looking for an exit from Tata Sons to fund its business plans.
Trustees Venu Srinivasan of the TVS Group and Vijay Singh have publicly advocated listing Tata Sons through an initial public offering (IPO), contrasting with a resolution passed a year ago by Tata trusts to retain its unlisted status.
Shapoorji is the brother of late Cyrus Mistry who was Chairman of Tata Sons. Noel Tata is married to Aloo Mistry, who is the sister of Shapoorji and Cyrus Mistry. Their grandfather Shapoorji Pallonji Mistry bought the stake in Tata Sons through two or three transactions over 50 years ago. However, the SP group doesn’t have a seat on the board of Tata Sons.
Incidentally, Mehli Mistry, who was ousted from Tata Trusts late last year is the cousin of Shapoorji and Cyrus.
“Besides, a listing will unlock value for millions of retail shareholders, create a more defined and robust dividend stream for the Tata Trusts, and expand the social and philanthropic impact that benefits the poorest sections of our country,” Mistry said. According to him, this group will only be strengthened through complying with RBI mandated listing. “While we remain in constructive engagement with the Tata Sons leadership to come to an amicable reconciliation at the earliest, we look towards the RBI for a decisive direction with regards to the listing,” he said. “We repose full faith in the Government of India and the Reserve Bank of India to act decisively,” he said.
On October 10, 2025, the SP group had said the public listing of Tata Sons is not merely a financial step — it is a moral and social imperative.
“It will unlock immense value for over 1.2 crore shareholders of listed Tata companies, who are indirect shareholders of Tata Sons, representing the aspirations of all Indians — the very citizens who have, for decades, held faith in the Tata name as a symbol of integrity and national pride,” it said. Shapoorji Pallonji and Company Pvt Ltd is a global diversified institution, with a leading presence in the sectors of engineering and construction, infrastructure, real estate, water, energy and financial services.
On October 10, 2025, the SP group had said the public listing of Tata Sons is not merely a financial step — it is a moral and social imperative.
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