15 September,2026 01:52 PM IST | New Delhi | mid-day online correspondent
Representational Image. File pic.
Several Tata Group stocks gained on Tuesday on the possibility of the holding company Tata Sons getting listed on the stock market, after reports on the Reserve Bank of India (RBI) rejecting Tata Sons' application to surrender its core investment company registration, according to news agency PTI.
On the Bombay Stock Exchange (BSE), shares of Tata Chemicals soared 20 per cent, while Tata Investment Corporation gained 15.24 per cent, Tata Motors Passenger Vehicles traded 5.89 per cent higher, and TCS surged 5.47 per cent.
Tata Elxsi jumped 4.28 per cent, Tata Power climbed 3.41 per cent, Tata Communications rallied 3.21 per cent, Tata Steel advanced 1.96 per cent and Tata Consumer Products inched up 1.72 per cent on the BSE.
On Saturday, PTI citing sources said the rejection was conveyed in a letter received by Tata Sons' company secretary and chief financial officer, thus closing out an application the company filed in March 2024 seeking to deregister as a non-banking financial company.
Tata Sons, the holding company of the USD 180-billion revenue Tata conglomerate, had sought de-registration in March 2024 after becoming debt free to avoid the listing requirement that applies to upper layer non banking financial companies (NBFCs). However, the regulator's latest decision means the holding company faces the mandatory listing.
Despite being a CIC, Tata Sons had exposure to bank debt as it had borrowed money on behalf of its group companies, as some were relatively new or did not have strong enough credit profiles to borrow cheaply on their own. At the request of the banks, it also acted as a guarantor for some of the subsidiaries while charging them a fee. Because of these interconnected financial arrangements, the RBI wanted greater regulatory oversight and transparency by treating Tata Sons as a Core Investment Company (CIC) under the NBFC framework.
The RBI had classified Tata Sons as an upper layer NBFC in September 2022, with such entities required to list within three years, with the original deadline of September 30, 2025 for Tata Sons. However, Tata Sons wanted to remain a privately held company and had sought to exit the NBFC framework before that deadline, by repaying more than Rs 21,000 crore of debt in 2024.
The company had applied to surrender its registration, seeking to operate as an unregulated holding company but the regulator kept the application pending and continued to include Tata Sons in its upper layer NBFC lists.
The RBI introduced a scale-based regulatory framework for NBFCs in October 2021, sorting lenders into base, middle, upper and top layers with progressively stricter oversight. The revised RBI norms effective June 2026 said any NBFC with assets of Rs 1 lakh crore or more sits in the upper layer and Tata Sons with its standalone assets of over Rs 2 lakh crore as of March 2026 falls under this bracket.
(With inputs from PTI)
