Shapoorji Pallonji (SP) Group Chairman Shapoorji Pallonji Mistry has once again advocated the listing of Tata Sons. In a statement issued on Friday, Mistry said that it is necessary to list Tata Sons on the stock exchange. This will not only increase transparency in the group, but will also strengthen governance and accountability. Let us tell you that Shapoorji Pallonji Group has about 18% stake in Tata Sons. Tata Trusts will benefit from public listing Shapoorji Mistry said that the listing of Tata Sons is not limited to just meeting the legal regulations, but it will further strengthen the fundamental principles of the Tata Group. He argued that so far no concrete reason or evidence has emerged to suggest that public listing would harm the interests of the Tata Trusts or lead to any reduction in their public welfare activities. Common investors and shareholders will benefit. According to Mistry, the listing of Tata Sons will increase the accountability of the board and the base of investors will also increase. He stressed that this would unlock value for millions of retail shareholders. Apart from this, there will be a fixed and strong source of dividend for Tata Trusts, which will further accelerate the charitable work done for the economically weaker sections of the society. Shapoorji Mistry said that SP Group is in discussion with the leadership of Tata Sons for a peaceful resolution of this matter. However, he also clarified that he is looking towards the Reserve Bank for a concrete direction on this matter. He is confident that the Government of India and RBI will take decisive steps regarding this listing. What is the whole controversy? Stake math: Tata Trusts holds about 66% stake in Tata Sons, while the Shapoorji Pallonji family holds 18.4%. RBI rule: In September 2022, RBI declared Tata Sons as ‘upper layer’ NBFC. Under this, the company is required to be listed in the stock market within 3 years (by September 2025). Tata’s stance: Tata Sons is looking for ways to avoid this rule by changing the structure of its holding company or paying off debt, so that it does not have to be listed. At the same time, SP Group wants listing so that the correct value of their stake can be determined. Also read this news… Silver today increased by ₹ 4855 to reach ₹ 2.41 lakh: Gold became costlier by ₹ 368 and crossed ₹ 1.50 lakh, this year the price increased by ₹ 17 thousand. There is a rise in the prices of gold and silver on Friday. According to India Bullion and Jewelers Association (IBJA), one kg of silver has increased by Rs 4,855 to Rs 2,41,013 lakh. Earlier on April 9, the price was Rs 2,36,158 per kg. At the same time, 10 grams of 24 carat gold increased by Rs 368 to reach Rs 1,50,305. Earlier on Thursday, the price was Rs 1,49,937 lakh per 10 grams. Read the full news…
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Shapoorji Mistry came in favor of listing of Tata Sons: Said- This is not just a regulatory requirement, but a necessary step for transparency.
