LONDON -- Tata Motors said on Monday it had no plans to list its luxury UK car unit 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 rumors."
Bloomberg reported that the Indian conglomerate is weighing London and New York as possible listing venues for the division, citing people with knowledge of the matter.
Tata Motors has turned around JLR since buying the business from Ford Motor in 2008, helping boost revenue more than sevenfold between purchasing the unit and 2015.