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After Hyundai, time for a Toyota India IPO?
According to a Livemint report, Toyota Motor Corp. has hosted Indian investment bankers at its Tokyo HQ multiple times to discuss the prospects of an India IPO.
After Hyundai Motor Co. of South Korea, it’s time for Toyota Motor Corp. of Japan to drive on Dalal Street, according to a Mint report.
The maker of the iconic Land Cruiser has hosted Indian investment bankers at its Tokyo HQ multiple times recently to discuss an India IPO, three people directly aware of the matter told Mint. The idea is to list Toyota Kirloskar Motor India Ltd. to raise around $700-800 million (about ₹6,000-7,000 crore) by offering new shares.
“The company is warming up to the plan…(of a Toyota India IPO),” one of the persons cited earlier told Mint. “Several meetings have been held with the global team that will take the strategic call.”
A second person said that Indian investment banks have met with Toyota’s chief financial officer as well as a strategy guy within the company.
“Given the successful listing of Hyundai India (last year), other global carmakers having a significant presence in India are now contemplating a local listing,” a third person said.
If the Toyota India IPO goes through, then the country would be the fourth country after the United States, the United Kingdom and Germany where the world’s largest carmaker is listed.
