Episode-4 BTS | The Listing Question: Behind The Factional Feud That Has Gripped The Tata Group

In this edition of Business Today magazine, we delve into the renewed tensions between the Shapoorji Pallonji Group and Tata Trusts over the public listing of Tata Sons. SP Group patriarch Shapoorji Pallonji Mistry has publicly called for greater transparency and good governance, highlighting both moral imperatives and financial pressures behind the demand. With an 18.4% stake in Tata Sons and mounting debt obligations, the group views listing as a way to unlock liquidity while respecting legacy. The standoff intersects with regulatory timelines, including RBI’s NBFC classification and compliance deadlines, and exposes internal fissures within Tata Trusts following leadership transitions. As legal, financial, and governance considerations collide, the story reflects broader questions of succession, control, and transparency at the heart of one of India’s most influential conglomerates.