India’s central bank is said to have rejected Tata Sons Pvt.’s plea to get a waiver from a regulatory rule that requires it go for a public listing.
The entity that sits at the heart of the $185 billion Tata Group empire that spans IT services, steel, hospitality and consumer goods has resisted a stock exchange listing for years as this would subject it to tighter regulatory oversight and force it to reveal more of the group’s internal dealings.
