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

Private equity firm Carlyle Group has started preparations for a possible initial public offering (IPO) of its India-based automotive components platform, Highway Roop Precision Technologies, according to a report by Bloomberg.

As per the report, the company is working with investment banks including Kotak Mahindra Capital, JM Financial, Goldman Sachs and Nomura on the proposed share sale, which could raise as much as $400 million.

The IPO is expected in the first half of next year and may include both fresh equity issuance and shares sold by existing investors.

Carlyle prepares for India portfolio listings

The final size, valuation and timing of the offering are still under discussion and could change depending on market conditions. Representatives of Carlyle and the investment banks involved did not comment on the development.

India’s IPO market has gained momentum after a relatively slower first half of the year. Companies have raised around $10.4 billion through initial share sales in 2026 so far, compared with $22.3 billion raised during the entire previous year.

Carlyle is also evaluating possible listings of other Indian portfolio companies. The firm had appointed advisers earlier for a potential IPO of its India-based healthcare revenue cycle management business Knack RCM, according to reports.

Highway Roop expands auto component presence

Carlyle established Highway Roop Precision Technologies last year 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, according to information available on its website. The company currently manufactures around 38 million yokes annually across more than 200 variants.

The proposed IPO would provide Carlyle an opportunity to unlock value from its investment in India’s growing automotive components sector.

The listing would also come amid increasing investor interest in Indian manufacturing companies and auto suppliers benefiting from global supply chain diversification.