Tata Sons, the holding company of India’s Tata Group, has approved plans to proceed with a public listing and extended the tenure of its executive chairman, N. Chandrasekaran.

The decision comes after a closely watched board meeting and represents an important development for one of India’s most prominent business groups.

Tata Sons has interests in industries including automobiles, technology, steel, aviation and consumer products.

A public listing could increase transparency around the holding company and provide investors with access to one of India’s largest business groups.

It could also create a major new opportunity in the Indian capital market.

The decision has attracted attention because of the influence Tata Sons has over several major companies, including Tata Motors, Tata Consultancy Services and Tata Steel.

Investors will now watch for further details about the proposed listing, including its timing, structure and valuation.

The move could have wider implications for corporate governance and ownership within the Tata Group.