Tata Trusts proposes rejig to keep Tata Sons private, avoid IPO to comply with RBI rules — Here's what could change

Tata Trusts has proposed a restructuring that would merge two of its operating companies with the Group's holding company Tata Sons, in a bid sidestep its regulatory classification as a core investment company (CIC), to avoid the requirement of a stock market listing.Notably, the Reserve Bank of India (RBI) defines a CIC as a non-banking financial company (NBFC) that has at least 90% of its assets invested in shares, bonds, or loans within group companies. Mint reported today that the…