Shapoorji Pallonji Group Shares Gain Up to 10% as Listing of Tata Sons Returns to Spotlight

The shares of Shapoorji Pallonji Group companies were up on Friday after the possibility of the listing of Tata Sons came back into the spotlight due to an incident that occurred at the holding firm. 

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Shares of Afcons Infrastructure rose 10% to ₹279.40, while shares of Gokak Textiles rose 10% to reach the upper circuit level of ₹64.35. Shares of Sterling and Wilson Renewable Energy were up as well, rising by 1% to ₹182.16. 

The reason behind this renewed interest in SP Group firms is because of the stake that the group has in Tata Sons. It has been reported that Shapoorji Pallonji Group owns more than 18% in the holding company of Tata Group. 

RBI Decision Brings Tata Sons Listing Back Into Focus 

The immediate trigger came after the Reserve Bank of India rejected Tata Sons’ application to deregister as a non-bank lender. 

Tata Sons is classified as a core investment company. Under the RBI framework cited in the report, non-bank lenders with assets exceeding ₹1 lakh crore, or those having direct or indirect access to public funds, are required to list. 

Tata Sons has so far remained privately held. Its standalone assets stood at ₹1.75 lakh crore as of March 2025. 

The company controls businesses including Tata Consultancy Services, Tata Motors, Tata Steel and Air India. The prospect of taking the more than century-old holding company public has remained a point of discussion, with Shapoorji Pallonji Group among the stakeholders favouring a listing. 

For the SP Group, a public listing could provide a route for shareholders to realise value from their Tata Sons holdings. The issue has previously also figured in legal disputes between the two groups. 

Tata Group Stocks Catch the Wave 

The positive market sentiment was not confined to stocks belonging to SP Group. 

On September 15, Tata Chemicals soared by 20%, while Tata Investment Corporation rose by 10%. Both Tata Motors Passenger Vehicles and Tata Consultancy Services saw their prices rise by 4.4% each. 

These three Tata companies, along with others from the group that are listed, have interests in Tata Sons. Consequently, the prospect of a listing has made people take notice of these interests once again. 

The RBI’s move is not in itself any kind of an announcement about the planned IPO of Tata Sons; however, it has put the issue of listing back on the agenda following the rejection of the holding company’s application for de-registration. 

SP Group stocks were thus driven up on September 15 by this new prospect, with Afcons Infrastructure and Gokak Textiles seeing the most notable price rises.