Carlyle Group Plans $400 Million IPO For India Auto Parts Platform Highway Roop Precision Technologies

Carlyle Group is exploring the possibility of listing its Indian automotive components platform, Highway Roop Precision Technologies, through an initial public offering (IPO), according to Bloomberg. The proposed IPO, which could raise up to $400 million, is being prepared in collaboration with investment banks such as Kotak Mahindra Capital, JM Financial, Goldman Sachs, and Nomura.

The IPO is anticipated to take place in the first half of the next year and may involve both fresh equity issuance and sales of shares from existing investors. The final details of the offering, including its size, valuation, and timing, are still under discussion and may be subject to changes based on market conditions. Representatives from Carlyle and the involved investment banks have not commented on the development.

India's IPO market has been gaining momentum following a slower first half of the year, with companies raising around $10.4 billion through initial share sales in 2026 thus far, compared to $22.3 billion raised during the previous year. Carlyle is also considering listing other Indian portfolio companies, having previously appointed advisers for a potential IPO of its India-based healthcare revenue cycle management business, Knack RCM.

Highway Roop Precision Technologies was established last year by Carlyle after acquiring controlling stakes in two auto component manufacturers, Highway Industries and Roop Automotives. Roop Automotives is among the world's largest producers of hot-forged steering yokes, manufacturing approximately 38 million yokes annually across over 200 variants.

The proposed IPO presents Carlyle with an opportunity to unlock value from its investment in India's rapidly growing automotive components sector, coming at a time when there is increased investor interest in Indian manufacturing companies and auto suppliers due to global supply chain diversification.