Tata Sons plans to avoid a public listing by providing an undertaking not to access public funds, as it seeks to declassify itself from being an "upper layer NBFC" and core investment company. This move comes amid significant investments, including over Rs 1 lakh crore for two semiconductor units. However, this may limit its ability to offer corporate guarantees for its growing businesses, following a reduction of Rs 20,000 crore in public debt earlier this year.
