Tata Sons listing: Who said what at the last board meet

The Tata Sons’ chairman, N Chandrasekaran, remained non-committal to the potential listing of Tata Sons, Moneycontrol reported, quoting sources.

According to the report, the Tata Trusts Chairman, Noel Tata, sought clarity from Tata Sons Chairman N Chandrasekaran on his personal views as to whether the group holding company should list during the board meeting held on May 26.

CNBC-TV18 had earlier reported that the listing of Tata Sons was among the topics discussed at the board

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The report said that Tata sought Chandrasekaran’s own views on the potential listing of Tata Sons.

The listing has become one of the most discussed topics within and outside the Tata Sons ecosystem, after the Reserve Bank of India classified the holding company of all Tata companies as an upper-layer NBFC — thereby mandating the initial public offering (IPO). Tata Sons has sought exemption from listing after it repaid over ₹20,000 crore of debt in a bid to stop being a public-facing entity.

Tata is also said to have sought details of the steps taken to convince the RBI, which has to decide whether Tata Sons should list.

In July last year, the Tata Trusts boards had unanimously adopted a resolution opposing any listing of Tata Sons.

People familiar with the matter said Chandrasekaran remained non-committal on the issue during discussions and did not indicate a definitive position on a potential public listing of the holding company, the report added.

CNBC-TV18 has reached out to Tata Sons regarding this development, and their response is awaited.