RBI files caveat after rejecting Tata Sons bid to avoid listing, source says

According to Business Recorder, the Reserve Bank of India (RBI) has taken a preemptive step in the courts so it can be heard in any case linked to a listing of Tata Sons, the holding company of the Tata Group. The move follows the regulator's refusal of Tata Sons' request to deregister as a non-banking financial company, a decision that brings the group's holding firm closer to a stock market listing. Reuters had earlier reported that the central bank conveyed its rejection in a letter to the company.

The RBI has filed a caveat in the Bombay High Court, which allows it to be heard if a petitioner challenges the decision or seeks a stay. A source described the step as a routine measure and declined to be named because the source lacks permission to talk to reporters. Factions within the group reportedly oppose a listing, according to local media, while neither the RBI nor Tata Sons replied to Reuters' emailed questions.

Core investment companies, like other non-bank financiers, must list once their assets pass 1 trillion rupees or they gain access to public money. The most recent figure available puts Tata Sons' standalone assets at 1.75 trillion rupees, dated March 2025. Among the businesses linked to Tata Sons are Tata Consultancy Services, Tata Motors, Tata Steel and Air India. Stocks linked to the group advanced on Tuesday.