Mahle Eyes $400M India IPO Revival
By ThePip Desk
German auto supplier Mahle is reportedly reviving its India IPO plans, aiming to raise up to $400 million in Mumbai to fuel its growth strategy.
German automotive parts supplier Mahle is reportedly reviving plans for an initial public offering (IPO) of its Indian subsidiary. The proposed share sale in Mumbai could target an estimated $300m to $400m, with preliminary talks already underway with potential advisors.
These discussions are still in early stages, indicating that specific details and the final valuation may yet change. This renewed exploration follows previous attempts for an IPO in 2024 that ultimately did not proceed.
Key Figures
- IPO Target Range: $300m to $400m
- Recent Investment: €7m
- New Jobs Created: 50
- Indian Operations: 15 locations
- Employees in India: 5,900
- Market Entry: 1958
New Investment Fuels India Strategy
The renewed IPO interest coincides with Mahle’s recent investment of €7m into a new e-compressor production facility. This facility, located in Coimbatore, India, is expected to create approximately 50 jobs.
This strategic investment aligns with India’s ‘Make in India 2.0’ initiative, focusing on domestic manufacturing. The e-compressors manufactured here are crucial components for advanced electric vehicle thermal management systems, highlighting Mahle’s pivot towards electrification.
Mahle’s Longstanding Indian Presence
Mahle first established its presence in the Indian market in 1958. Over decades, the company has significantly expanded its operational footprint across the country.
Currently, Mahle operates across 15 locations within India, employing around 5,900 people. The company has also diversified its product range substantially to include electrification-related components, catering to the evolving automotive landscape.