The German automotive components manufacturer Mahle GmbH is returning to plans for an initial public offering (IPO) of its Indian business. This was reported by sources familiar with the situation, according to Bloomberg.
Mahle has held preliminary discussions with potential advisors regarding the sale of shares in Mumbai, the sources said, requesting anonymity as the information is confidential. According to them, the company is likely to soon appoint banks and begin preparatory work for the IPO.
The placement could raise around $300-400 million, the sources noted. They added that discussions are ongoing, and details, including the potential size of the listing, may change.
Mahle had considered the possibility of taking its Indian business public back in 2024 but decided not to proceed at that time. A company representative stated that Mahle does not comment on market rumors and discussions.
If the deal goes ahead, Mahle will join a growing group of multinational companies looking to capitalize on opportunities in India's stock market. High investor demand and attractive valuations are encouraging global companies to list their local subsidiaries.
In recent years, Hyundai Motor, LG Electronics, Carraro, and Tenneco have conducted share placements for their Indian subsidiaries in Mumbai. It was also reported that other companies, including Hindustan Coca-Cola Beverages, Pernod Ricard India, and Carlsberg India, are also evaluating the prospects for potential placements.
