India's Tata MotorsBSE 3.29 % Ltd said on Monday it had no plans to list its luxury British car brand Jaguar Land Rover after Bloomberg reported that the automaker was considering an initial public offering of the unit.
"There are no plans to list Jaguar Land Rover," a Tata spokesman told Reuters. "There is no truth in those rumours." Earlier in the day, news agency Bloomberg had reported that Tata Group is considering an initial public offering of Jaguar Land Rover, the luxury-car maker the Indian conglomerate bought in 2008 for $2.4 billion
Tata Motors has turned around Jaguar Land Rover since buying the business from Ford Motor Co., helping boost revenue more than sevenfold between 2008 and 2015.