Hyundai Motor India has filed for an initial public offering (IPO). The IPO is expected be the largest in Indian history, aiming to raise between $2.5 and $3 billion.
Hyundai Motor India Limited (HMIL) has filed draft papers for an initial public offering (IPO) with the Securities and Exchange Board of India (SEBI).
The Hyundai Motor IPO is expected to be the biggest in India, potentially raising around ₹25,000 crore (approximately $3 billion).
While no official date has been announced. IPO is expected to launch around Diwali 2024. It will consist entirely of an offer for sale (OFS) of existing shares by Hyundai Motor Company.
Hyundai Motor is opting for an IPO to capitalize on the growing market potential in India and enhance its valuation.
This move is part of the South Korean government’s “corporate value-up” program. Aims to capitalize on the growing Indian market.