Corporate governance advisory firm InGovern Research Services has urged the Tata Sons board to commit to a stock market listing, saying the Reserve Bank of India’s (RBI) rejection of the holding company’s bid to exit tighter regulatory oversight leaves it with little scope to remain unlisted.
In a report titled ‘Tata Sons: Bell the Cat’, the firm said the board, which is scheduled to meet on September 17, should not pursue “prolonged litigation or alternative structures aimed at remaining unlisted” and should instead begin preparations for an initial public offering, as quoted by PTI.
