Hyundai Motor India is set to make history with its Initial Public Offering (IPO), marking the first time an automaker in India will go public since Maruti Suzuki in 2003. Hyundai, India’s second-largest car manufacturer, received approval from SEBI to raise around $3 billion (approximately ₹25,000 crore) at a valuation close to $18-20 billion. This IPO is expected to be one of the largest in Indian history, surpassing previous major offerings(ET NOW)(Money Control).
Key Dates and Details
- IPO Opens: October 16, 2024
- IPO Closes: October 18, 2024
- Allotment Date: October 21, 2024
- Listing Date: October 23, 2024
The IPO will be an Offer for Sale (OFS) by Hyundai’s parent company, which is selling 142 million shares, representing a 17.5% stake. Investors are keenly watching this listing, as it will provide a liquidity option for existing shareholders and boost Hyundai’s public visibility in India(Chittorgarh.com).
Hyundai Motor India: A Powerhouse in the Auto Industry
Established in 1996, Hyundai Motor India is a critical player in the country’s auto industry, known for models like the Creta, i20, and Venue. Hyundai has also been a leading exporter of passenger vehicles from India, contributing significantly to Hyundai Motor Company’s global revenue. The company operates two manufacturing plants in India and exports to multiple countries(Money Control)(Chittorgarh.com).
In addition to its gasoline and diesel-powered vehicles, Hyundai plans to introduce its first India-made electric vehicle in 2025, reflecting the brand’s commitment to innovation and sustainability(Money Control).
What This IPO Means for Investors
Hyundai’s entry into the Indian stock market could be a game-changer, offering retail investors an opportunity to invest in one of the most recognized automobile brands in the world. The IPO’s pricing and share allocation details are eagerly awaited, but investors are already showing significant interest due to Hyundai’s solid market presence and its plans for future growth, including EV launches(Chittorgarh.com).
This IPO not only showcases Hyundai’s market strength but also highlights the growing importance of the Indian auto industry on a global scale.
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