Earlier this year, all trustees of the Tata Trust had unanimously passed a resolution stating that Tata Sons should remain private. However, sources close to Tata Group told CNBC-TV18 that some trustees believe it is important to revisit the earlier resolution.

Shares of Tata Investment Corporation, a holding company within the Tata Group, which invests in land, stocks, and debentures, surged over 50% in the month of September. The stock extended gains after a 16% advance on Tuesday, September 30, ahead of the final trading day of the month.

CNBCTV18·author

Published Oct 10, 2025 | 11:02 AM GMT-04

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The recent differences between Tata Trust trustees over the appointment of nominee directors and control over functioning of the Tata Sons Board has now led to a rethink on whether Tata Sons should remain a private entity.

Earlier this year, all trustees of the Tata Trust had unanimously passed a resolution stating that Tata Sons should remain private. However, sources close to Tata Group told CNBC-TV18 that some trustees believe it is important to revisit the earlier resolution.

"In light of the rift among trustees and the removal of Vijay Singh, some of the trustees may feel it is better to go public", said a source requesting anonymity.

CNBC-TV18 has learnt from sources that there was no discussion on public listing of Tata Sons in the Tata Trust board meeting which took place on Friday in Mumbai.

Sources say, some of the Tata Trust trustees may agree with the Shapoorji Pallonji Group's statement which said that it was both timely and necessary to consider a public listing of Tata Sons.

The Shapoorji Pallonji Group which owns an 18.4% stake in Tata Sons said that it had full faith in the RBI's regulatory framework and in the 30th of September compliance timeline to publicly list Tata Sons.

"Trusts, India’s largest public charity, stands to benefit immensely from this process. A transparent and publicly accountable Tata Sons would pave the way for a robust and equitable dividend policy, thereby ensuring sustained inflows to the Trusts", said a statement by the SP Group.

Tata Trust had a five-hour board meeting divided over three sessions on Friday to discuss disbursement of funds for charitable projects. No issues regarding governance & control over Tata Sons were on the agenda. None of the contentious issues or differences between trustees were discussed during the board meeting.

Ahead of the meeting, sources close to Tata Group had told CNBC-TV18 that they were confident that all trustees will have a harmonious working relationship.

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