Tata Sons is the principal investment holding company and promoter of Tata companies. As per the RBI classification, Tata Sons is an upper-layer NBFC and therefore it becomes mandatory for it to go public.

As per media reports, the SP group has asked Tata Sons to consider an IPO for the company. The SP group holds an 18.5 per cent stake in Tata Sons and made the plea at the Tata Sons annual shareholders' meeting held on Monday. A listing would have helped the SP group monetise part of its stake and raise funds to meet its debt obligations.

While lauding Tata Sons chairman N Chandrasekaran for the company’s performance at the recent AGM, the SP Group pointed out that a listing on exchanges will provide Tata Sons access to substantial capital to pursue its vision of investing $90 billion in the next five years.

The SP group, which is the single largest shareholder in Tata Sons, has had fraught relations with the Tatas after Cyrus Mistry was removed as Tata Group chairman in October 2016 following a bitter ba

The SP Group, as a minority shareholder, has provided constructive feedback, noting the improved performance of Tata Group companies in recent years.