Hyundai India plans to file for IPO in June 2024, seeks to raise 20,500 crore

  • Hyundai India is expected to list itself in the Indian stock market by the end of this year, seeking a valuation of about 20,500 crore.
Hyundai
Hyundai India is expected to list itself in the Indian stock market by the end of this year, seeking a valuation of about ₹20,500 crore.
Hyundai
Hyundai India is expected to list itself in the Indian stock market by the end of this year, seeking a valuation of about ₹20,500 crore.

Hyundai India is planning to file for an initial public offering (IPO) as soon as this month. The South Korean automaker's India unit is reportedly planning to file the IPO, seeking to raise 20,500 crore from the market, a Bloomberg report has claimed. The report further stated that the potential listing is planned by the end of this year.

Indian auto majors such as Maruti Suzuki, Tata Motors and Mahindra are already listed in the Indian stock market and Hyundai's entry in that segment will put it in the same league as the homegrown auto majors, which are among the key players in the Indian stock market. The report stated that Hyundai India is seeking to raise about 20,500 crore in the IPO, which would make it one of the biggest on record in India, following Life Insurance Corporation of India's 20,600 offering in 2022.

Also check these Vehicles

Find more Cars
Hyundai I20 (HT Auto photo)
Engine Icon1197 cc FuelType IconPetrol
₹ 7.04 - 11.21 Lakhs
Compare
View Offers
Hyundai Tucson 2024 (HT Auto photo)
UPCOMING
Engine Icon1999 cc FuelType IconPetrol
₹ 30 Lakhs
Alert Me When Launched
Hyundai Exter (HT Auto photo)
Engine Icon1197 cc FuelType IconMultiple
₹ 6 - 10.15 Lakhs
Compare
View Offers
Hyundai Creta (HT Auto photo)
Engine Icon1497 cc FuelType IconMultiple
₹ 11 - 20.15 Lakhs
Compare
View Offers
Hyundai Nexo (HT Auto photo)
UPCOMING
Engine Icon1499.0 cc FuelType IconPetrol
₹ 65 Lakhs
Alert Me When Launched
Hyundai Venue (HT Auto photo)
Engine Icon1493 cc FuelType IconMultiple
₹ 7.94 - 13.48 Lakhs
Compare
View Offers

Also Read : Ola Electric gets SEBI's nod to launch IPO worth 5,500 crore

The report cited people familiar with the inside information saying that the automaker is potentially seeking a valuation of as much as $25 billion, which translates to about 20,500 crore. The report also claimed that Hyundai India is likely to file a draft prospectus with the market regulator Securities and Exchange Board of India (SEBI) over the next two weeks. The report further noted that Hyundai’s advisers for the first-time share sale include Citigroup Inc., HSBC Holdings Plc, JPMorgan Chase & Co., Kotak Mahindra Bank Ltd. and Morgan Stanley.

Also Read : Upcoming cars in India in 2024

While no final decisions on details such as size and timing have been made, if Hyundai India goes ahead with an IPO as planned it would use the proceeds to expand the auto company's operations in the country. Hyundai Motor India Ltd. is currently India’s second-biggest carmaker by sales, positioned behind Maruti Suzuki. Over the last few years, the automaker has been investing heavily in new products, network expansion and operational expansion as well.

First Published Date: 12 Jun 2024, 08:26 AM IST
NEXT ARTICLE BEGINS

Check Latest Offers

Please provide your details to get Personalized Offers

Choose city
+91 | Choose city
Choose city

Want to get the best price for your existing car?

Powered by: Spinny Logo
By clicking "View Offers" you Agree to our Terms and Privacy Policy
Dear Name

Please verify your mobile number.

+91 | Choose city
Couldn't verify the OTP.
It's either expired or it's incorrect.