Following the statements made by Tata Trusts trustees Venu Srinivasan and Vijay Singh, the Shapoorji Pallonji (SP) group, which owns over 18% of Tata Sons, has voiced its support for the public listing of the Tata group holding company. The group argues that such a move would enhance corporate governance and improve transparency and accountability.
On Friday, Shapoorji Pallonji Mistry, the Chairman of the SP group, emphasized that the listing of Tata Sons should not be viewed merely as a regulatory obligation but as a vital progression. He pointed out that there has yet to be a convincing, evidence-based argument demonstrating how a public listing could adversely affect the trusts or hinder their capacity to assist their beneficiaries.
Mistry further stated, “A publicly listed holding company bolsters board accountability, expands the base of investors, and ensures long-term value for all parties involved.” The SP group is also seeking to divest its stake in Tata Sons to support its own business initiatives.
Both Venu Srinivasan and Vijay Singh have publicly supported the idea of an initial public offering (IPO) for Tata Sons, which contradicts a resolution passed by Tata Trusts a year ago to maintain its unlisted status.
Shapoorji Pallonji is the sibling of the late Cyrus Mistry, former Chairman of Tata Sons. Noel Tata, who is married to Aloo Mistry, the sister of both Shapoorji and Cyrus Mistry, also has familial ties to the group. Their grandfather, Shapoorji Pallonji Mistry, acquired his stake in Tata Sons over multiple transactions more than 50 years ago. Notably, the SP group does not currently hold a board position at Tata Sons.
Additionally, Mehli Mistry, who was removed from Tata Trusts last year, is a cousin of both Shapoorji and Cyrus Mistry.
Mistry added that a public listing would create value for millions of retail shareholders, establish a more structured and reliable dividend stream for the Tata Trusts, and enhance the social and philanthropic impact benefiting the most underprivileged communities in India. He believes that compliance with the Reserve Bank of India’s (RBI) listing mandate would only strengthen the group. “While we continue to engage constructively with the leadership of Tata Sons to achieve a resolution, we look to the RBI for clear guidance on the listing,” he stated. “We have full confidence in the Government of India and the Reserve Bank of India to take decisive action,” he affirmed.
On October 10, 2025, the SP group articulated that the public listing of Tata Sons transcends a mere financial maneuver; it is both a moral and social necessity.
The group highlighted that such a listing would unlock substantial value for over 12 million shareholders of listed Tata companies, who indirectly hold shares in Tata Sons. This reflects the hopes of all Indians who have long regarded the Tata name as a representation of integrity and national pride. Shapoorji Pallonji and Company Pvt Ltd operates as a global diversified institution, with a significant footprint in engineering and construction, infrastructure, real estate, water, energy, and financial services.
