Tata Motors has said that there are no plans to list Jaguar Land Rover after reports suggested that the company was considering an initial public offering of the luxury brand.
A Tata Spokesperson told Reuters, There are no plans to list Jaguar Land Rover. There is no truth in those rumours." Bloomberg had earlier reported that the Indian carmaker was considering listing Jaguar Land Rover.
Tata Motors has helped Jaguar Land Rover gain significant market share in recent years and has increased revenue for the carmaker by more than seven folds since 2008, after being bought from Ford.
Jaguar Land Rover is seen significant growth in India and has become the chosen luxury brand for several customers. The move to not list the company is a good move by Tata Motors.