Mumbai, Oct 10 (NationPress) In light of significant disagreements within the Tata Trusts, the Shapoorji Pallonji Mistry (SP) Group has publicly expressed its support for the IPO of Tata Sons on Friday. The SP Group stated, "We believe that the listing of this esteemed institution will not only honor the vision of its founder, Shri Jamsetji Tata, but also enhance trust among all stakeholders, including employees, investors, and the citizens of India."

A delay in the IPO of Tata Sons would contradict the interests of the Shapoorji Pallonji Group, which aims to divest part of its 18.37% stake to alleviate the debt burden of its construction and engineering division.

The statement further emphasized that a transparent and publicly accountable Tata Sons would unlock significant value for over 12 million shareholders of listed Tata companies, who are indirect stakeholders and embody the aspirations of Indians who have long viewed the Tata name as a beacon of integrity and national pride.

The SP Group expressed unwavering faith in the Reserve Bank of India (RBI), highlighting its role as a constitutional and autonomous entity committed to equity, justice, and public interest.

Tata Trusts, which hold a 66% stake in Tata Sons, possess considerable power to veto board decisions. While some trustees are reported to favor the listing, others are firmly against it.

According to the SP Group, their stance aligns with the ideals of Jamsetji Tata, who envisioned an enterprise that serves the nation with openness, accountability, and compassion.

"Our relationship with the House of Tatas spans generations, built on mutual respect and shared heritage," the statement asserted. "We are committed to a constructive role alongside Tata Trusts and Tata Sons in shaping a future that honors both our founding families' legacies."

On Tuesday, key figures from Tata Trusts met with government officials, including Home Minister Amit Shah and Finance Minister Nirmala Sitharaman, to address internal conflicts that have arisen within the group.

The government has made it clear that it seeks stability within the Tata Trusts and insists that internal disputes should not disrupt the operations of the Tata Group, which is one of India's most valuable enterprises.

The internal strife within the Tata Group was highlighted during a meeting on September 11, which aimed to deliberate on the reappointment of former Defence Secretary Vijay Singh as a nominee director on the Tata Sons board. His reappointment was proposed by Noel Tata and Venu Srinivasan, but faced opposition from four other trustees, resulting in its rejection.

These trustees attempted to nominate Mistry to the Tata Sons board, yet their proposal was met with resistance from Tata and Srinivasan, emphasizing the necessity for a transparent process that aligns with the Tata Group's core values.