Toyota Kirloskar Motor Ltd., a subsidiary of Toyota Motor Corporation, is reportedly exploring the possibility of an initial public offering (IPO). Based on Mint's report, discussions are underway at the brand's Tokyo headquarters. The report also suggests that the Japanese giant has been in talks with Indian investment bankers while it explores the possibility of raising $700 to $800 million through this listing.
The report from Mint indicates that multiple meetings have already taken place with Toyota's global leadership team. Another source revealed to the publication that discussions included Toyota Motor Corporation's chief financial officer and a senior executive overseeing strategic and global operations. A third individual mentioned in the report stated that Hyundai's recent successful listing in India had motivated other multinational automakers with a strong local presence to consider similar actions.
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One of the individuals quoted in the same report noted that while Japanese executives played a key role in the decision-making process, bankers had also engaged with Toyota's local management to explore the potential for a listing. However, the process has not yet been officially initiated. In response to inquiries from Mint, a spokesperson for Toyota Kirloskar refuted any current intentions for a stock market listing.
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If the Japanese company proceeds with the IPO, it would mark a significant milestone for the Indian market, especially following Hyundai India's successful listing last year. If Toyota India introduces its IPO, it would become the fourth country after the United States, the United Kingdom, and Germany where the world's largest car manufacturer is publicly traded.
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