Shapoorji Pallonji Mistry calls for Tata Sons’ public listing for transparency amid infighting among trustees
Shapoorji Pallonji Mistry, chairman of the Shapoorji Pallonji family, the largest minority shareholder of Tata Sons, on Friday (October 10, 2025) reiterated his call for public listing of Tata Sons to ensure transparency amid infighting among trustees of Tata Trusts, the news agency reported. PTI.
The Shapoorji Pallonji family holds around 18.37% stake in Tata Sons, making them the largest minority shareholders.
“We believe that the listing of this premier institution will not only uphold the spirit of transparency envisaged by its founding father, Shri Jamsetji Tata, but will also strengthen trust among all stakeholders – employees, investors and the people of India,” SP Group Chairman Shapoorji Pallonji Mistry said in a statement included in the agency report.
Tata Sons’ need for RBI compliance
Tata Sons, an ‘upper tier’ non-banking finance company (NBFC), is required to list itself as per Reserve Bank of India (RBI) compliance norms.
In the statement, Shapoorji Pallonji Mistry called for the listing of Tata Sons to comply with the RBI compliance timeline of September 30, 2025. He said this listing issue should be “seen with the seriousness and solemnity that regulatory commitments deserve.”
Shapoorji Pallonji Group has consistently advocated for Tata Sons to go public.
“Our stance is guided by a simple but profound belief that transparency is the truest form of respect for both heritage and the future,” said Mistry, quoted in the agency report.
He also highlighted that the Scale-Based Regulatory Framework of the RBI states that an NBFC should not act in a manner prejudicial to the interests of its investors.
What happens if Tata Sons gets listed?
If Tata Sons is listed on the Indian stock exchange, the move will potentially ‘unlock tremendous value’ for over 1.2 crore investors, all of whom are indirect shareholders of Tata Sons.
“This will unlock tremendous value for over 1.2 crore shareholders of listed Tata companies, who are indirect shareholders of Tata Sons and represent the aspirations of all Indians – citizens who have believed in the Tata name as a symbol of integrity and national pride for decades,” Shapoorji Pallonji Mistry said, according to the agency report.
Tata Trusts, India’s largest public charity, could potentially benefit greatly from this listing move.
Conflicting opinions?
Mistry’s comments come at a time when Tata Trusts’ board of trustees is vertically divided and in contention among themselves over the running of the salt-to-software conglomerate.
“Our position is not contradictory, but is entirely in line with the ideals of Shri Jamsetji Tata, whose vision is an enterprise that serves the nation with openness, responsibility and compassion,” Mistry said in his statement.
The infighting has reached such a level that Tata Trusts Chairman Noel Tata and Tata Sons Chairman N. Chandrasekaran, along with Tata Trusts Vice Chairman Venu Srinivasan and trustee Darius Khambata, met Union Home Minister Amit Shah and Finance Minister Nirmala Sitharaman on Tuesday to discuss the company’s future.
