Mumbai: Private equity major Carlyle plans to launch a $500 million initial public offering (IPO) for its Indian automotive platform, Highway Roop Precision Technologies, multiple people aware of the listing proposal told ET. In parallel, Carlyle has also initiated the IPO process for its healthcare revenue cycle management (RCM) platform, investment bankers said.

The proposed listings are likely by mid-2027, said the people cited above. The automotive platform is expected to be valued at about $2 billion.

The healthcare RCM asset, created through the merger of Knack RCM and EqualizeRCM after their acquisitions by the private equity major, should raise $400-500 million through a combination of primary and secondary share sales, bankers cited above told ET.

Investment bankers have begun pitching for mandates on both offerings. One of the most active private equity investors in India, Carlyle has deployed more than $8 billion in the country across investments including PNB Housing Finance, SBI Cards, VLCC, Hexaware Technologies and Nido Home Finance.

A Carlyle spokesperson declined to comment.

In February 2025, Carlyle Asia Partners acquired controlling stakes in Highway Industries and Roop Automotives, leading manufacturers of forged and precision-machined components, steering system assemblies, transmission parts and other powertrain applications used in electric, hybrid and internal combustion engine (ICE) vehicles. To lead the combined platform, Carlyle appointed Dharmesh Arora, former Asia-Pacific CEO of Schaeffler Group, as chief executive officer in June 2025.
The founders of Highway Industries and Roop Automotives, Umesh Munjal and Mohit Oswal, respectively, continue to hold a combined 25-30% stake in the merged entity. According to sources, Highway Roop is expected to generate revenue of about ₹3,000 crore and EBITDA of ₹700 crore in FY27.Precision Parts
In India, Highway Roop mainly competes with listed precision engineering and auto-component manufacturers such as Bharat Forge (Market cap of ₹97,652 cr), and Sona BLW Precision Forgings ( Market cap of ₹38,180 cr).

Separately, Carlyle Asia Partners acquired majority stakes in Knack RCM and EqualizeRCM in May 2026 to create a global, multi-specialty healthcare revenue cycle management platform. The combined business posted revenue of approximately $160 million and EBITDA of $65 million in FY26, sources said.

Happy Joe’s Pizza & Ice Cream is turning America’s 250th birthday into a summer-long celebration.

The Davenport, Iowa-based restaurant chain — which has three company-owned restaurants, 35 domestic franchised locations and nine international locations in Egypt — is rolling out patriotic menu items, family block parties and sweepstakes tied to the nation’s semiquincentennial.

Tom Sacco, Happy Joe’s CEO, president and “chief happiness officer,” said the campaign fits the brand’s roots.

“Who’s better in this country to throw a birthday party for just regular old American folks than Happy Joe’s?” Sacco told FOX Business. “Because that’s who we are.”

From May 15 through Aug. 15, guests who buy a specialty pizza and a Mountain Dew at participating locations can enter the “Freedom Flyaway Sweepstakes” for a chance to win one of three $3,000 trips to Washington, D.C. 

BELOVED IOWA PIZZA FRANCHISE SERVES UP ‘MORE THAN PIZZA’ FOR ITS CUSTOMERS

The sweepstakes was initially solely tied to a Washington, D.C., trip, but Sacco said winners can also take the cash and use it however it best helps their families.

“If celebrating to them is giving… them freedom financially to not be burdened by some of the expensive things that have happened in the last four or five years … If that’s what makes you happy, because mom doesn’t have to stress about how to pay for daycare during the summer or something like that, then that’s a huge win,” Sacco said.

The promotion also includes weekly Mountain Dew prize packs with pickleball paddles, lawn chairs, blankets, Happy Joe’s apparel and gift cards.

Happy Joe’s is also hosting AMERICA250 Block Party events on June 29 from 4 to 8 p.m. with games, trivia, music, giveaways and free slices of its red, white and blue birthday cake pizza.

YUM BRANDS SELLS PIZZA HUT FOR $2.7B, SHARPENS FOCUS ON TACO BELL AND KFC

Sacco said some locations will have activities such as bounce houses, face painting, balloon makers and patriotic trivia tied to both U.S. history and Happy Joe’s history.

“We’re going to just do some fun stuff like that,” Sacco said. “… We can play the game and make it patriotic, but make it tied to Happy Joe’s kind of stuff.”

The limited-time menu includes a BBQ Brisket Pizza with Texas-smoked brisket, pickles, onions and barbecue sauce, a BBQ Chicken Pizza and an AMERICA250 Birthday Cake topped with red, white and blue frosting and sprinkles.

Sacco said Happy Joe’s is leaning into what it has long been known for: birthdays, families and memorable dining experiences.

MCDONALD’S BRINGING BACK FRIED APPLE PIE TO CELEBRATE AMERICA’S 250TH BIRTHDAY

CLICK HERE TO GET FOX BUSINESS ON THE GO

“We don’t compete on price. We don’t compete on discounting. We compete on experience,” Sacco said. “Pizza gets you in the door. When you leave, we’ve created a memory. And that’s how we go about the business.”

He added that the campaign gives the brand a chance to celebrate the country’s milestone birthday with families across its markets.

“The 250, for me, is like the biggest national celebration I can ever be a part in,” Sacco said. “I have the opportunity, because of Happy Joe’s, to share it with hundreds of thousands of our guests and their families around the country.”

Costco has added a new frozen treat to its shelves from a brand customers have praised as “top tier.”

Yasso Frozen Greek Yogurt Cups have been offered at select warehouse locations, according to the brand.

The product was introduced late last month, the company announced, just in time as summer temperatures begin to spike.

The 12-pack includes mini cups split between two flavors: Vanilla Caramel and Fudge Chip.

GREEK YOGURT HAS ‘AMAZING BENEFITS’ FOR THE BODY AFTER WORKOUTS, NEW STUDY SAYS

Marketed as a lighter alternative to traditional ice cream, each 3-ounce cup contains less than 100 calories and 4 grams of protein.

The Vanilla Caramel flavor has 80 calories per serving, while the Fudge Chip comes in at 90 calories.

The pack reportedly retails for $11.89, equivalent to roughly $1 per cup, according to Instagram page Costcobffs.

The new release has sparked significant attention across social media.

One Reddit user praised the decision, saying Yasso items are not overly sweet and lack the artificial taste often found in other low-calorie desserts.

“Yasso products have always been top tier,” the user said.

Another Reddit user added, “These are absolutely amazing and the right portion for that sweet treat.”

CHECK OUT THESE DISCOUNTS ON MEMBERSHIPS AND REWARDS TO SAM’S, COSTCO AND BJ’S WHOLESALE CLUBS

Ticker	Security	Last	Change	Change %
COST	COSTCO WHOLESALE CORP.	951.45	-14.14	-1.46%

Social media page CostcoHotFinds, which said it has partnered with the brand, noted the item is available for a limited time.

“Availability depends on the region and retailer,” Yasso said. “We’d suggest checking with your local store manager about ordering it in.”

Shoppers eager to try the mini cups may also find the product at BJ’s Wholesale Club locations, the brand added.

CLICK HERE TO DOWNLOAD THE FOX NEWS APP

It is typical for Costco to roll out limited-time products as part of a testing period before wider or recurring availability.

The Yasso brand has, however, shown staying power, as Costco has previously carried its frozen Greek yogurt bars, including Cookies ‘n Cream and Mint Chocolate Chip flavors.

The 15-count packs feature similar nutrition profiles, with each serving typically ranging between 90 and 100 calories and containing about 5 grams of protein.

FOX Business reached out to Yasso for more information.