Is a Tata Sons IPO still in the works? Here is what the RBI said

Tata Sons’ application with regards to it seeking exemption from an Initial Public Offering (IPO) is under examination, the Reserve Bank of India said in response to an Right To Information (RTI) application.

The response from the RBI was to a question in the RTI application, which stated that “Has a decision been taken on the application of Tata Sons.” The reply to the application is dated November 14, 2024.

The central bank said in its RTI response that Tata Sons’ application for surrender of Certificate of Registration (COR) as a Core Investment Company (CIC) is “under examination.”

As per regulations of the Resserve Bank of India, an upper-layer non-bank financial company (NBFC) hsa to be listed on the bourses within three years of being declared as one.

In the case of Tata Sons, it was first classified as an NBFC-upper-layer entity in September 2022, which means, it has time until September 2025 in order to go public.

Earlier this year, Tata Sons, which is the holding company of the Tata Group, one of India’s largest conglomerate, pared its public debt through various steps. It also sold some stake its cash cow and tech giant TCS through block deals.