Tata Sons To Go For Public Listing After RBI Rejects Application: Report

The Reserve Bank has rejected Tata Sons' application to surrender its core investment company registration, killing the Tata Group holding company's attempt to avoid a mandatory stock-market listing and setting the stage for it to become publicly traded, sources said on Saturday.The rejection was conveyed in a letter received by Tata Sons' company secretary and chief financial officer on Saturday, the sources said, closing out an application the company filed in March 2024 seeking to deregister as a non-banking financial company.Tata Sons and the RBI did not immediately respond to requests for comment.The decision means Tata Sons will remain classified as an Upper Layer NBFC, a category subject to enhanced regulatory requirements, including mandatory listing. The RBI first classified Tata Sons as an Upper Layer NBFC in September 2022, with such entities required to list within three years.