Tata Trusts propose Tata Sons merger with two firms to shed NBFC status, avoid listing

The Tata Trusts have proposed merging two operating companies with Tata Sons in a restructuring aimed at allowing the group’s holding company to shed its classification as a non-banking financial company and remain an unlisted private company.

The proposed restructuring involves the merger of Tata Electronics Systems Solutions Pvt Ltd (TESS) and Tata Consulting Engineers (TCE) with Tata Sons – the holding company of the salt-to-software, cars and airline conglomerate, according to a statement issued by the Tata Trusts on Monday.