Hyundai Motor India plans historic IPO: First for automaker in 20 years
If this plan materializes, it would mark the first IPO by an automaker in India in more than 20 years, following Maruti Suzuki's public offering in 2003.
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Hyundai Motor India is planning to go public in India and is likely to submit a draft red herring prospectus (DRHP) to market regulator SEBI within the next two weeks, as reported by ET.
Anticipation surrounds the approval process by SEBI, with expectations for a green light within 60-90 days, potentially setting the stage for Hyundai Motor India's IPO to hit the market as early as September or October.
Supported by leading investment banks such as Citibank, Morgan Stanley, Kotak Mahindra, HSBC, and JPMorgan, the IPO process is poised to attract considerable interest from investors.Top of FormBottom of Form
However, the valuation and size of the IPO have not been determined yet and may fluctuate based on the company's strategy and prevailing market conditions, according to sources cited by Moneycontrol.
If this plan materializes, it would mark the first IPO by an automaker in India in more than 20 years, following Maruti Suzuki's public offering in 2003.
In the fiscal year 2024, Hyundai Motor India ranked as the second largest carmaker in India in terms of passenger sales volumes, trailing behind Maruti Suzuki.
Headquartered in South Korea, Hyundai Motor India Limited operates as a wholly owned subsidiary of the Hyundai Motor Company.
