Tata Trusts propose merger to keep Tata Sons private

Tata Trusts, which own 66% of Tata Sons, have proposed merging Tata Electronics Systems Solutions and Tata Consulting Engineers into the holding company. The restructuring aims to strip Tata Sons of its NBFC and core investment company status, removing the need for a stock-market listing. The board has been asked to consider the plan and seek RBI approval.

• Tata Trusts hold 66% of Tata Sons and oppose a stock-market listing
• TESS and Tata Consulting Engineers would merge into Tata Sons
• Combined operating revenue would be Rs 105,043 crore, 64.3% of total income
• RBI classified Tata Sons as an upper-layer NBFC in 2022, triggering a listing requirement