Tata Sons Expects Reprieve From Forced IPO Amid Rule Review

TATA SONS, the holding company of the salt-to-software conglomerate, is not making any preparations for a near-term share sale as it believes regulators will extend a deadline to take itself public, said people familiar with the matter.

- PR SANJAI & BAIJU KALESH

Following engagement with officials, the company's leaders expect it will receive official communication from the Reserve Bank of India (RBI) granting an extension for an initial share sale amid a nationwide review of rules governing entities that are not public-facing and do not require public funds, said the people, who asked not to be named discussing information that's sensitive.

The RBI had earlier classified Tata Sons as a top-tier non-banking lender, forcing it to list by September this year.