Why Noel Tata opposes Tata Sons listing: ‘150-year-old’ business model at stake

Noel Tata has opposed a public listing of Tata Sons Pvt., warning that it could limit the holding company's ability to support struggling group companies and alter the business model that has underpinned the Tata Group for 150 years.In a rare public interview with Republic TV, Noel, who heads the charitable trusts that own 66% of Tata Sons, said the holding company has traditionally acted as a financial backstop for group entities facing difficulties.Banks, lending agencies, shareholders and suppliers have…