Shapoorji Pallonji chief applauds RBI ruling and urges Tata Sons public listing

Shapoorji Pallonji Group chairman Shapoorji Pallonji Mistry praised the Reserve Bank of India’s decision to treat Tata Sons as an Upper-Layer non-banking financial company, noting that the RBI’s refusal to allow a surrender of its registration provides a clear regulatory path. He highlighted Prime Minister Narendra Modi’s commitment to strengthening institutions and respecting the RBI’s independence. Mistry described a public listing of Tata Sons as more than a financial move, calling it a social and moral duty that would improve public accountability and preserve the group’s philanthropic legacy.

He advocated for greater collaboration between Tata Sons, Tata Trusts and shareholders, envisioning the listing as a bridge linking private heritage with public oversight. The chairman also pointed to Tata Sons’ diverse interests in sectors such as semiconductors, AI and infrastructure, urging stakeholders to approach the process with harmony and shared purpose. He concluded that the RBI’s ruling could become a landmark for Indian corporate governance, showing that scale and heritage can coexist with transparency.