Tata Trusts Plan Tata Sons Shake-Up To Sidestep Stock Market Listing
Tata Trusts, which hold a 66 per cent stake in Tata Sons, have proposed a restructuring of the group's holding company that could allow it to avoid the regulatory classification that has put pressure on it to list on the stock market.
The proposal involves merging two companies -- Tata Electronics Systems Solutions Private Limited (TESS) and Tata Consulting Engineers (TCE) -- with Tata Sons Private Limited (TSPL). The Trusts have asked the Tata Sons board to consider the proposal and take the necessary steps, including seeking a no-objection certificate from the Reserve Bank of India (RBI).
