This Carlyle subsidiary wants to raise ₹4,700cr via IPO
What's the story
Carlyle Group, a leading private equity firm, is gearing up for a $500 million (approximately ₹4,700 crore) initial public offering (IPO) of its Indian automotive platform, Highway Roop Precision Technologies. The company has appointed Goldman Sachs, Nomura, JM Financial, and Axis Capital as lead managers for the proposed IPO. The move comes as Carlyle looks to monetize its stake in this auto components platform.
Valuation details
IPO likely to value Highway Roop at $2B
The proposed IPO is likely to value Highway Roop at some $2 billion (around ₹19,000 crore).
It will mainly be an offer for sale (OFS), letting current shareholders, led by Carlyle, partially monetize their holdings.
The firm had created Highway Roop Precision Technologies in February 2025 by acquiring controlling stakes in two leading manufacturers of forged and precision-machined components: Highway Industries and Roop Automotives.
Financial forecast
Highway Roop projected to generate ₹3,000 crore revenue in FY27
Highway Roop is expected to generate a revenue of around ₹3,000 crore and an EBITDA of some ₹700 crore in FY27.
This growth is expected to come from the scale benefits and operational synergies of the merger.
Carlyle appointed Dharmesh Arora, former Asia-Pacific CEO of Schaeffler Group, as CEO in June 2025 to lead this combined business.
Additional ventures
Carlyle also starts IPO process for healthcare RCM platform
Along with the automotive platform, Carlyle has also started the IPO process for its healthcare revenue cycle management (RCM) platform.
This was formed by merging Knack RCM and EqualizeRCM after their acquisitions by the firm.
A major player in India's private equity space, Carlyle has invested over $8 billion in the country across various sectors including PNB Housing Finance, SBI Cards, VLCC, Hexaware Technologies, and Nido Home Finance.