Hyundai Motor India IPO – One of the Biggest IPO Coming Soon?

IPOWatch Team
July 4, 2024

IPOWatch Team

South Korean automaker Hyundai Motor India, is going to launch one of the biggest IPO in India, still, the official confirmation is pending from the brand. The company aims to file the draft red herring prospectus (DRHP) for the Hyundai Motor India IPO with the markets regulator Securities & Exchange Board of India (SEBI) by the end of June or by July. The company will finalize the IPO proceedings depending on its marketing strategy and market conditions quoted on Moneycontrol.

The Hyundai Motor India IPO is likely to be purely an OFS (offer for sale) via the issue of its existing shareholders, and promoters as per the online sources. The company plans to raise between $2.5 billion to $3 billion via IPO. The company’s Mainboard IPO is likely to be listed on the NSE and BSE indices.

Hyundai Motor Co has reportedly selected advisors for the initial public offering (IPO) of its arm, Hyundai Motor India Limited. Alongside Citi, JP Morgan, and HSBC Securities, the company has chosen investment banks Kotak Mahindra Capital and Morgan Stanley as its advisors, as per a report by Moneycontrol.

Hyundai India registered the highest-ever annual sales at 6.02 lakh units in 2023. Currently, Hyundai Motor India Limited is the second largest passenger vehicle carmaker in the country with a 14.9 percent year-to-date FY24 market share, at a $22-28 billion valuation as per OneDrive.

The Life Insurance Corporation of India (LIC) IPO is one of the largest IPOs launched in India raised $2.7 billion in May 2022.

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