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Tata Ponders IPO for Jaguar Land Rover Unit
Tata Group, whose Tata Motors Ltd. unit acquired Jaguar Land Rover Ltd. in 2008, is evaluating a plan to launch an initial public offering for the British luxury-car maker, sources tell Bloomberg News.
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Tata Group, whose Tata Motors Ltd. unit acquired Jaguar Land Rover Ltd. in 2008, is evaluating a plan to launch an initial public offering for the British luxury-car maker, sources tell Bloomberg News.
Still in the early stages of study, such an IPO would list on an international exchange such as London or New York, according to one source. The company denies the plan.
JLR, which previously was owned by Ford Motor Co., has multiplied Tata Motors’ revenue sevenfold since the acquisition. The British company has said it will invest £4 billion ($5.1 billion) during the current fiscal year ending March 31 on capacity and product development.
Analysts note that an IPO would help JLR fund new models and a push into technologies involving autonomous driving and connected-car services.
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