Tata Motors says no plans to list Jaguar Land Rover, quashes Bloomberg report
Tata Motors, owned by the salt-to-software Indian conglomerate Tata Group, bought the loss-making British luxury car brand JLR from the Ford Motor Company in 2008, and has turned it into profitbusiness Updated: Jun 20, 2017 11:27 IST
Tata Motors Ltd said on Monday it had no plans to list its luxury British car brand Jaguar Land Rover after Bloomberg reported that the automaker was considering an initial public offering of the unit.
“There are no plans to list Jaguar Land Rover,” a Tata spokesman told Reuters. “There is no truth in those rumours.”
Bloomberg had on Monday reported: “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.”
Tata Motors, owned by the salt-to-software conglomerate Tata Group, bought the loss-making British luxury car brand JLR from the Ford Motor Company in 2008, and has turned it into profit. Not only is the luxury carmaker flourishing in India, it is also supporting the parent company’s Tata Motors, whose profits and market share in India have dropped drastically over the last few years.
(With Reuters inputs)
First Published: Jun 20, 2017 11:27 IST