MumbaiAnalysts value a listed Tata Sons above $120 billion.
Noel Tata, who chairs the controlling charitable trusts, says listing would change the group’s character.
The Reserve Bank of India ordered the listing, and the board voted Thursday to begin complying.
Tata Trusts call the board’s decision a “legal nullity” ahead of a shareholder vote due by year-end.
Sources: Financial Times News