The Indian auto giant Tata Motors is mulling to list its British subsidiary Jaguar Land Rover (JLR) on the London Stock Exchange, as per the latest industry reports. The company reportedly has entered into talks with several investment banks to manage the proposed issue. An industry source quoted as saying in ET that about four banks including Citi, SBI Caps, HSBC and JP Morgan are in talks with senior management of Tata Motors.
Acquired by Tata Motors in year 2008, JLR has been registering considerably high growth since then. The company has also indicated that it will increase its headcount by more than 11 percent in the global market with hiring over 2,000 people within the next two years.
As per industry reports, the listing of JLR in London Stock Exchange would ensure that the Indian auto giant will get the much needed cash for debt repayment as well as for a capacity ramp-up.
While banks are rumored to be presenting their recommendations for listing timeline to the Tata Motors, the company is yet to make any announcement on the matter.
