New Delhi, Oct. 10 -- The Shapoorji Pallonji Group, one of the largest shareholders of Tata Sons, on Friday called for a public listing of the company, making a rare public statement that referred to the relationship between the two storied business houses.

"The public listing of Tata Sons is not merely a financial step - it is a moral and social imperative," read the statement. It would unlock significant value for over 12 million shareholders of listed Tata companies, who are indirect shareholders of Tata Sons, it said.

The SP Group stands to gain significantly from a listing of Tata Sons. The group is estimated to have a total debt of Rs.55,000-60,000 crore. In May, it raised $3.4 billion (about Rs.29,000 crore) from private creditor...