Shapoorji Pallonji Group, the second-largest shareholder in Tata Sons, on Friday backed a potential listing of the holding company of India's sprawling Tata conglomerate, signalling support for a move that could reshape the ownership of one of the country's best-known business groups.
“The Reserve Bank of India has provided full clarity. Tata Sons had been classified as an Upper-Layer NBFC under the RBI’s Scale-Based Regulatory Framework, and the prescribed listing route followed from that regulatory architecture.”
