SP Group, Tata Sons' 2nd-largest shareholder, backs IPO plan

Shapoorji Pallonji Group, the second-largest shareholder in Tata Sons, backed a potential listing of the holding company of the Tata conglomerate. "IPO plans should not be viewed as a victory of one stakeholder over another... [It’s] an opportunity for reconciliation, renewal and a stronger institutional future," Chairman SP Mistry said. The Tata Sons board approved the IPO plans on Thursday.