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SP Group pushes for Tata Sons’ public listing

Hindustan Times Gurugram

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October 11, 2025

{ GROUP HOLDS 18.37% IN TATA SONS

- Nehal Chaliawala, Varun Sood and Satish John

The Shapoorji Pallonji Group on Friday pressed for a public listing of Tata Sons that the Tata Group holding companyis trying to resist, invoking the ideals of transparency espoused by its founder Jamsetji Tata.

An initial public offering (IPO) would be a major relief for the debt-ridden SP Group, which holds 18.37% in Tata Sons. The public statement from SP Group came on a day when the Tata Trusts, the majority owner of Tata Sons, held a meeting of its trustees.

“The public listing of Tata Sons is not merely a financial step—it is a moral and social imperative,” SP Group said. It would unlock significant value for over 12 million shareholders of listed Tata companies, who are indirect shareholders of Tata Sons, it said.

The SP Group is estimated to have a total debt of ₹55,000-60,000 crore. In May, it raised about ₹29,000 crore from private creditors at an eye-watering interest rate of 19.75%. An IPO will help it sell some of its stake and repay debts.

The statement invoked Jamsetji Tata, saying an IPO would uphold the spirit of transparency envisioned by the Tata Group's founding father. It also acknowl-

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