Mumbai, Sept. 29 -- A public listing of Tata Sons would fundamentally change the Tata Group's long-term investment and social-development model, as the holding company would have to balance its existing purpose with the expectations of public investors seeking financial returns, Tata Trusts Chairman Noel Tata has said.

Speaking at the Republic Summit, Noel Tata talked of the relationship between Tata Sons and Tata Trusts, which holds around 66 per cent of Tata Sons.

He said the Trusts' role as a philanthropic organisation is separate from its role as the group's controlling shareholder, but the two are connected through Tata Sons.

"So the roles are separate. Tata Sons is the engine that continues to increase the value of the corpus of ...