The deadline for Tata Sons to list is within 24 hours. What happens next?

Copyright © HT Digital Streams Limit all rights reserved. Varun Sood 2 min read 29 Sept 2025, 10:28 am Ist Tata Trusts, led by Chairman Noel Tata, instructed Tata Sons, N. Chandrase Charan (pictured), to investigate all possible options to ensure Tata boys stay private. Summary with the deadline of RBI for the top layer of NBFCs that expires, Tata Sons have a decisive moment list on the nuisance or find a way to stay private. Tata Sons was classified by the Reserve Bank of India in September 2022 as a non-bank-financial company. The Tata Group operations company had to be listed on the stock exchanges by September 2025 unless it obtained an exemption. In its 2021 guidelines, RBI said that the NBFCs in the top layer should be listed within three years after it was identified as such. A few, like Piramal Capital and Housing Finance, and Aditya Birla Finance, tried to offer it by announcing mergers with their listed parents. RBI regulations categorize NBFCs into four layers – base layer, middle layer, top layer and top layer – based on size, activity and perceived risk. The top layer consists of prominent names such as Tata Sons, Lic Housing Finance, L&T Finance and Shriram Finance. On August 6 last year, Mint first reported that Tata boys became almost debt-free, with just £ 5 crore borrowed by non-convertible debentures (NCDs). “The step to the fact that they become debt-free is seen as a step to avoid being listed among a Reserve Bank of India Guidelines, because loans of financial institutions are one of the statistics assessed by the regulator when looking at the classification of the top layer NBFCs, such as Tata Sons. Read: Tata Sons is debt-free, as it would like it on July 31 this year, Mint reported that Tata Trusts, led by Chairman Noel Tata, chairman of the Tata boys, Natarajan Chandrasekaran, ordered to investigate all possible options to ensure that the Tata Group’s control company remains private. “The chairman of Tata Sons is requested to make the best efforts to ensure that Tata boys do not change his current status as an unlisted private company and that Tata boys are fully linked to the Reserve Bank of India in this regard,” a resolution accepted at the council meeting of Sir Ratan Tata Trust on July 28. Read: Tata Trusts to Tata Sons: Try everything to stay private, consider Exit for SP Group Catch all the business news, market news, news reports and latest news updates on Live Mint. Download the Mint News app to get daily market updates. More Topics #Markets Premium #Tata Sons Read Next Story