SP Group seeks Rs.25,000-Cr share buyback from Tata Sons

The Mumbai-based Shapoorji Pallonji (SP) Group is seeking a share buyback valued at approximately INR 25,000-Cr from Tata Sons. The proposal, which was previously presented to the Tata Sons board by Noel Tata, remains active as the SP Group seeks to secure funds for debt repayment.Despite a recent directive from the Reserve Bank of India (RBI) requiring Tata Sons to pursue a public listing, the SP Group maintains its urgent requirement for capital.The SP Group is the second-largest shareholder in Tata Sons, holding an 18.4% stake through its entities, Sterling Investments Corp and Cyrus Investments. The group recently completed an INR 21,500-Cr refinancing and continues to explore options to monetise its holdings.