Hyundai Motor India's subsidiary is expected to raise up to KRW 4.4 trillion through an IPO mid-month, marking what could be the largest-ever IPO in the Indian stock market.
The upcoming IPO has garnered significant attention from both the automotive industry and investors, given its potential to set a new record in India’s stock exchange history.
On the 10th, Hyundai Motor Company announced in a regulatory filing that the public offering price range for the Indian subsidiary’s shares has been set at 1,865–1,960 rupees (approximately KRW 29,970–31,480).
Based on this price range, the total offering amount is projected to reach between KRW 4.2 trillion and KRW 4.4 trillion.
Hyundai plans to sell 17.5% of its Indian subsidiary’s shares through this listing.
Out of the total 812.54 million shares, 142.19 million shares will be floated on the market, and the corporate value of the Indian subsidiary is estimated to be around KRW 25–26 trillion.
Hyundai Motor India will accept general subscriptions from the 15th to the 17th, followed by its official listing on the Mumbai Stock Exchange on the 22nd.
This IPO is expected to surpass the previous record of KRW 3.4 trillion set by the Life Insurance Corporation of India (LIC) in 2022, further strengthening Hyundai’s foothold in the Indian automobile market.
The Indian subsidiary commented, "Through this IPO, we aim to accelerate our growth in the Indian market while maintaining sustainable business operations in line with global standards."
Hyundai Motor established its Indian subsidiary in 1996 and officially entered the market in 1998 by launching its first model, the Santro, from its Chennai plant.
India, the world’s third-largest automobile market after China and the United States, plays a pivotal role in Hyundai's global strategy.
https://www.sankyungtoday.com/news/articleView.html?idxno=48691
Hyundai Motor India subsidiary pursues largest-ever IPO, expected to raise up to KRW 4.4 trillion
Hyundai Motor India's subsidiary is expected to raise up to KRW 4.4 trillion through an IPO mid-month, marking what could be the largest-ever IPO in the Indian
www.sankyungtoday.com
