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4 Tata Sons directors reverse stance, back listing
The Indian Express··3d ago
Four Tata Sons directors voted on September 17, 2026 to pursue listing the holding company. That reversed their March 2024 stance against a public listing. Noel Tata was the lone opponent on the six-member board. The shift followed an RBI rejection on September 11 of Tata Sons' bid for deregistration. Tata Trusts collectively own about 66 percent of the company.
Prism
What It Means For You
- RBI directed Tata Sons to comply with rules that would lead to listing its shares.
- Noel Tata wrote that Thursday's board resolutions were null and void ab initio.
- The four directors who switched positions do not hold shares in Tata Sons.
What's Happening
- Harish Manwani, Anita M George, Venu Srinivasan and Saurabh Agrawal backed listing steps.
- In March 2024, with Ratan Tata still alive, the board had supported staying unlisted.
- Tata Sons and the four directors did not comment when contacted.
What Changed Since 2024
- Ratan Tata died in October 2024, seven months after the earlier board stance.
- A Tata Group source said the firm had repaid debt in March 2024 and sought an exemption.
- Tata Trusts collectively own about 66 percent of Tata Sons.
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