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RBI Rejects Tata Sons' Plea to Stay Private, Pushes Firm Toward IPO

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The Reserve Bank of India has rejected Tata Sons' application to surrender its core investment company registration, bringing the Tata Group's holding firm closer to a stock market listing. Tata Sons had sought to shed the designation in an effort to avoid mandatory listing requirements. Tata Trusts, which holds a majority stake, has been pushing to keep the company private in order to maintain long-term control. However, the Shapoorji Pallonji Group, another key stakeholder, has been in favour of a public offering. The RBI's decision effectively narrows Tata Sons' options for remaining unlisted.

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