Tata Group considers IPO of luxury car unit Jaguar Land Rover

MUMBAI (June 20): Tata Group is considering an initial public offering of Jaguar Land Rover, the luxury-car maker the Indian conglomerate bought in 2008 for US$2.4 billion ($3.3 billion), people with knowledge of the matter said.

Senior Tata Group officials have held preliminary internal discussions over the past few months about the potential listing of Jaguar Land Rover on an international stock exchange, according to the people, who asked not to be identified because the information is private. The conglomerate is weighing London and New York as possible listing venues for Jaguar Land Rover, which is a unit of Tata Motors Ltd., one of the people said. 

A spokesman for Tata Group, which has 29 listed companies, said “there are no plans to list JLR.” A representative for Tata Motors said “there is no truth in the information,” without elaborating.

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