The Shapoorji Pallaonji Group has once again advocated for the listing of Tata Group’s holding company Tata Sons. In the recent times, Shapoorji Pallaonji Group is in debt. For this, the company has also sought help from RBI. According to media reports, the SP Group has also made a formal request from the central bank in this regard. On this, the group says that all stakeholders will benefit from the listing of Tata Sons. The group has 18.37 percent stake in Tata Sons.
Debt on SP Group
At this time there is a lot of debt on the SP group and it is struggling a lot to repay it. At the same time, the Tata Sons Company has also requested to cancel its registration as an upper layer core investment company. But on this, the SP Group says that Tata Sons has not told him about this. The company says that they should have been included in the discussion on such important decisions.
In September 2022, RBI classified Tata Sons as an upper layer non-banking financial company. He will also have to list in the stock market by September 2025. In the recent times, RBI is also considering the application of Tata Sons to cancel the registration. Along with this, he is also considering the request to exempt the listing.
RBI has the matter right now
Let me tell you that Tata Sons had given an application to RBI in 2024. In this, he had asked to cancel his registration as CIC under the rules of NBFC-Hul. So the company has reduced the debt from its balance sheet to avoid RBI’s NBFC-Hul list. Right now this matter is with RBI.
Repoiring jugaad
SP Group is one of the oldest industrial companies in the country. Since recent times, the company is facing financial problems. In the recent times, the company has a lot of debt while there is a shortage of cash. The company’s financial condition is bad since the Kovid-19 epidemic. Now to reduce the debt, the company is selling some of its assets. In this, the company is selling some of its share sales, sales of Gopalpur port, some of its real estate properties in Eureka Forbes. At the same time, the SP Group has mortgaged its entire 18.37 percent stake in Tata Sons to raise funding from private credit funds.