Tata Sons’ IPO Can Take a Page From a Hong Kong Titan

Last week, the Reserve Bank of India retained Tata Sons Pvt. on its updated list of systemically important shadow lenders

India’s 158-year-old Tata Group wants its holding company to stay private. But since regulatory pressures are making it difficult to hold off a stock-market listing indefinitely, it can perhaps learn the virtue of simplicity from an even older conglomerate: Hong Kong’s Jardine…