Mumbai (Maharashtra) [India], April 10 (ANI): Shapoorji Pallonji Group Chairman Shapoorji Pallonji Mistry on Friday reiterated the need for listing Tata Sons, calling it a 'necessary evolution' that would strengthen transparency, governance and accountability within the conglomerate.

Shapoorji Pallohji group has about 18 per cent stake in Tata Sons.

In a media statement, Mistry said that a timely listing of Tata Sons is not merely a matter of regulatory compliance but a step that would reinforce the foundational principles of the Tata Group.

'To date, no clear, evidence-based case has been presented to explain how a public listing would materially damage the interests of the trusts or reduce their ability to serve beneficiaries,' he said.

He further emphasised that the listing is fundamentally in the public interest, as it would strengthen board accountability, broaden the investor base, and secure long-term value for stakeholders.

According to Mistry, a public listing would also unlock value for millions of retail shareholders and create a more defined and robust dividend stream for Tata Trusts, thereby expanding its social and philanthropic impact, particularly for economically weaker sections.

The SP Group Chairman noted that a group built on trust, integrity and public purpose would only be strengthened through compliance with the listing mandate of the Reserve Bank of India.

He added that while the SP Group remains in constructive engagement with Tata Sons leadership to arrive at an amicable resolution, it is looking towards the RBI for a decisive direction on the matter.

Mistry also expressed confidence in the Government of India and the Reserve Bank of India to act decisively regarding the proposed listing.

Tata Sons, which is the principal shareholder of Tata Group companies, falls under the RBI's upper-layer NBFC framework, which requires listing. (ANI)