Tata Trusts proposed merging two operating companies into Tata Sons on Monday to remove its holding company status and comply with RBI rules without an IPO.
The plan merges Tata Electronics Systems Solutions and Tata Consulting Engineers with Tata Sons, yielding net assets of ₹2,00,158 crore and operating revenues of ₹105,043 crore.
The proposal requires approval from the Tata Sons board and the Reserve Bank of India following the central bank's rejection of an earlier surrender application on September 11.