RAVI RANJAN PRASAD MUMBAI, MARCH 7
Tata Group stocks were in focus due to the buzz around Tata Sons’ IPO as several of them hold a stake in parent company and will lead to value unlocking on listing. Tata Chemicals which has a stake in Tata Sons gained 11.30 per cent on BSE on Thursday while Rallis India gained 13.17 per cent.
As per RBI, Tata Sons is an upper layer non banking finance company (NBFC) which has to list by September 2025. A recent note by Spark Wealth Management on Tata Sons listing timeline of September 2025 seems to have triggered buying by market participants.
Tata Sons may be valued at up to $96 billion in IPO, said Spark Wealth Management. As per the RBI guidelines, it is mandatory for an upper-layer NBFC to list within three years of being notified. On 14th September 2023, RBI had notified 15 financial companies in the upper-layer NBFC category, the list includes Tata Sons too. Tata Group’s all stocks gained except Titan Company closed lower on profile taking.
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