GS, Nomura, Axis hired to run Carlyle’s India automotive platform IPO

Carlyle has hired Goldman Sachs, Nomura, and Axis Capital to manage the proposed IPO of Highway Roop Precision Technologies, its Indian automotive components platform created by merging Highway Industries and Roop Automotives. The IPO, valued at around USD 2 billion (about Rs 19,000 crore), will primarily be an Offer for Sale allowing Carlyle and other shareholders to partially monetise holdings, with founders retaining 25-30 percent. Highway Roop is projected to report revenue of about Rs 3,000 crore and EBITDA of around Rs 700 crore in FY27, and competes with listed peers Bharat Forge and Sona BLW Precision Forgings.