Tata Trusts Proposes Alternative To Public Listing

Tata Trusts, which own 66 per cent of Tata Sons, on Monday proposed merging two Tata Group companies into Tata Sons so that the group’s parent company can stay private and unlisted. Under the plan, Tata Electronics Systems Solutions (TESS) and Tata Consulting Engineers (TCE) will be merged with Tata Sons. The Trusts say this will give Tata Sons its own operating business, so it will no longer be treated as a finance company by the Reserve Bank of India (RBI).