German car parts co Webasto plans to take local unit public

Mumbai: Webasto is planning a $400-500 million initial public offering of its Indian unit by 2027, said people familiar with the matter, as the German car parts supplier seeks to capitalise on surging demand for sunroofs in the world's third-largest automobile market.

The proposed public issue is expected to value Webasto Roofsystems India at about $2 billion, the people said, requesting anonymity.

Axis Capital and JM Financial have been mandated to manage the IPO process, they said.


Webasto, the global market leader in openable roof systems, has established a strong presence in India, counting key automakers Mahindra & Mahindra, Tata Motors, Hyundai Motor India, and Kia India among its customers.

Rising demand for sunroof-equipped passenger vehicles in India has prompted Webasto to significantly expand its manufacturing footprint in the country. In addition to its existing plants in Pune and Chennai, the company is setting up a new facility in Haryana, slated to start operations in the December quarter.

Located between Manesar and Kharkhoda in Haryana, the new facility is planned to support an annual capacity of around 500,000 units. Webasto had said the expansion was driven by a continued growth in sunroof sales.

A spokesperson for Webasto didn't respond to an email query.

Webasto Roofsystems India reported a strong performance in FY25, with revenue rising 31% to ₹946.5 crore from ₹720 crore in FY24. The company also swung to a ₹31.4 crore net profit from a year-earlier loss of ₹9.1 crore, aided by operating leverage and improved margins. Ebitda nearly tripled to ₹102 crore from ₹36 crore in FY24, according to the latest available data from the Registrar of Companies (RoC).

Webasto has invested more than 110 million in expanding its Indian business since 2019. It plans to invest a total of 174 million by 2030, according to a recent company statement.

Webasto Group posted a global revenue of 4 billion in FY25, a 7.4% decline. During the year, Europe accounted for 35% of group revenue, Americas remained unchanged at 28%, China accounted for 18%, and the share of Asia Pacific (APAC) region increased to 19%, representing a rise of four percentage points, it said.

The roof systems business by far remained the largest segment, generating about 3 billion, or 79% of revenue. Battery systems accounted for around 300 million, or 8%, while Thermo Management contributed about 500 million, or 13%, it said.

India's automotive sector is witnessing a series of IPOs as component manufacturers and vehicle technology companies look to tap strong domestic demand, rising exports, and growing investor appetite for manufacturing businesses.

Private equity firm Carlyle plans to launch a $500 million IPO for its Indian automotive platform, Highway Roop Precision Technologies,

ET reported last month. The proposed listing, likely by mid-2027, is expected to value Highway Roop at about $2 billion.

Webasto's proposed listing would add to a growing pipeline of automotive IPOs in India, following offerings by companies such as Belrise Industries and Carraro India.

Belrise Industries, a supplier of chassis systems, exhaust systems and polymer components to automakers, raised ₹2,150 crore through an IPO in 2025. Carraro India, the local arm of the Italian transmission and axle maker, listed in 2024.