This is source I found from another site, main source you can find in last paragraph
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, people with knowledge of the matter said.
Senior Tata Group officials have held preliminary internal discussions over the past few months about the potential listing of Jaguar Land Rover on an international stock exchange, according to the people, who asked not to be identified because the information is private. The conglomerate is weighing London and New York as possible listing venues for Jaguar Land Rover, which is a unit of >Tata Motors Ltd., one of the people said.
A spokesman for Tata Group, which has 29 listed companies, said “there are no plans to list JLR.” A representative for Tata Motors said “there is no truth in the information,” without elaborating.>boost revenue more than sevenfold between 2008 and 2015. Deliberations are at an early stage, and Tata Group hasn’t made a final decision to pursue an IPO of the business, according to the people. Details such as timing and the potential fundraising size haven’t been set, the people said.
A listing of the luxury unit would give it an option to raise funds in the future at a time Tata Motors’s India operations are struggling, according to Mahendra Patil, managing partner at Mumbai-based consulting firm XMPUS Financial Services LLP. The automaker’s India business has posted a >loss in two of the past three financial years.
“The acquisition of Jaguar and Land Rover has been one of the most successful turnaround stories by the Tatas,” Patil said. “So reaping its benefits, by listing when the Indian operations are down, may be one of the most appropriate decisions.”
Shares of >Tata Motors rose as much as 3.4 percent in Mumbai trading Tuesday. They were up 3.1 percent to 466.50 rupees at 12:51 p.m., making Tata Motors the best performer on the benchmark S&P BSE Sensex, which was little changed.
Selling stock would help Jaguar Land Rover fund the development of new models and investments in connected-car technologies and autonomous driving systems. A listing of the business could become one of the first major tasks for Tata Group’s new chairman, Natarajan Chandrasekaran, who took over >leadership of the conglomerate in February.