New Delhi, Oct. 13 -- Tata Trusts remains committed to its decision to keep Tata Sons private, two Tata executives told Mint, hours after the Shapoorji Pallonji Group issued a public statement seeking a public share sale of the Tata Group holding company.

An initial public offering (IPO) will dilute Tata Trusts' shareholding, weaken its voting rights and limit its ability to influence key decisions at Tata Sons, the executives said on the condition of anonymity. Tata Trusts holds nearly 66% in Tata Sons, the holding company of the $300 billion Tata Group, India's largest conglomerate. Debt-ridden SP Group is the biggest individual shareholder, with 18.37% stake.

However, Tata Trusts is still open to giving an exit to the SP Group over a...