Hyundai Receives Approval from SEBI to Float IPO

The Securities Exchange Board of India (SEBI) gave the green light to the IPO of Hyundai.

The South Korean company received final observations from SEBI after it filed draft papers in June 2024.

KFin Technologies serves as the registrar for the offering. Reports suggest that the company intends to initiate an IPO within the upcoming months, to raise about Rs 25,000 crore.

The issue will be completely offer-for-sale (OFS).

With this, Hyundai Motors is looking to enhance its brand image and provide liquidity and a market for equity shares. A rise in share price will enhance the reputation of the Hyundai brand in India.

In terms of passenger volumes, Hyundai is the second largest carmaker for FY24.