I-bankers: Tata Sons confident of deregistering as NBFC-UL

Not Keen On Getting Listed

- NESIL STANEY

TATA SONS, THE holding company of the Tata Group, is confident of being allowed by the Reserve Bank of India to deregister as NBFC-UL (upper layer), said top investment bankers close to the group. As per guidelines of the Reserve Bank of India (RBI) issued in September 2022, unlisted NBFC-UL has to launch IPO if RBI does not approve deregistration plea or grants exemption.

Of the 15 finance companies included in the NBFC-UL, only Tata Sons, Tata Capital and HDB Finance are now in the unlisted space. Both Tata Capital and HDB Finance are preparing their floats. HDB is 95% owned by HDFC Bank.