This auto-parts maker is planning $400M IPO in India
What's the story
Carlyle Group is gearing up for an initial public offering (IPO) of its Indian auto-parts platform, Highway Roop Precision Technologies. The move could raise as much as $400 million, as per Bloomberg. The private equity firm has enlisted Kotak Mahindra Capital, JM Financial, Goldman Sachs, and Nomura Holdings to assist in the share sale process.
Offering
IPO details and market conditions
The upcoming IPO is slated for the first half of next year and will include both primary and secondary shares.
However, specifics such as the size, valuation, and timing of the offering are still being worked out and may change depending on market conditions.
Carlyle has not yet commented on these developments through its representatives.
Market trends
Broader trend of IPO activity in India
Carlyle isn't just focused on Highway Roop Precision Technologies.
The firm is also preparing for potential listings of at least two other companies in its Indian portfolio.
This comes as part of a broader trend of increasing IPO activity in India, which has seen companies raise some $10.4 billion through first-time share sales so far this year, compared to $22.3 billion for all of last year.
Company background
A look at Highway Roop Precision Technologies
Highway Roop Precision Technologies was formed by Carlyle in early 2025 through the acquisition of controlling stakes in two auto-component manufacturers: Highway Industries Ltd and Roop Automotives Ltd.
The latter is one of the world's largest producers of hot-forged steering yokes, with a production capacity of 38 million yokes per year across more than 200 different variations, according to its website.