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INDIA's biggest IPO release

                             Only Business

  India's  biggest IPO release: Hyundai  Motor is 

releasing for  almost $3 billion




After Life Insurance Corp. of India's $2.5 billion IPO in 2022, Hyundai Motor India's IPO may rank among the largest IPOs in Indian history.
In preparation for its initial public offering (IPO), in which it plans to sell 142.2 million shares, South Korean carmaker Hyundai Motor's Indian division submitted preliminary paperwork to Sebi, according to a draft red herring prospectus. Morgan Stanley, JP Morgan Chase & Co., Citigroup Inc., Kotak Mahindra Bank, HSBC Holdings Plc, and Morgan Stanley are among the advisors for the share sale. 





According to Bloomberg, which cited people with knowledge, the manufacturer hopes to raise about $3 billion through the IPO, with a possible listing scheduled for the end of the year. After the $2.5 billion offering by Life Insurance Corp. of India in 2022, this would rank as one of the largest initial public offerings (IPOs) in Indian history. According to Moneycontrol, the DHRP stated that its goals were to "achieve the benefits of listing the Equity Shares on the Stock Exchanges and to carry out the Offer for Sale of up to 142,194,700 Equity Shares of the face value of ₹10 each by the Promoter Selling Shareholder." 


In terms of passenger sales volumes, Hyundai Motor India Limited is the second-largest automaker in India in FY24, behind Maruti Suzuki. At the end of FY23, the India unit had profits of ₹4,653 crore and revenue of ₹60,000 crore. Among the nation's non-listed automakers, this was the highest.

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