After getting approval from market regulator SEBI, Hyundai Motors India is preparing to bring the biggest Initial Public Offering (IPO) ever in the Indian market. According to media reports, the company can bring IPO in October next month.
Hyundai filed draft red herring prospectuses (DRHP) with the Securities and Exchange Board of India to launch an IPO in June 2024. The company is looking to raise around Rs 25,000 crore through the IPO, for which the company will not issue a single new share. The company's existing investors and promoters will sell their shares through an offer for sale (OFS).
First IPO of an automaker in India in 20 years
This IPO will be the first initial public offering of an automaker in India in 20 years. Earlier, Maruti Suzuki's IPO came in 2003. Hyundai is the second largest carmaker in the country after Maruti Suzuki India.
After LIC, this will be the biggest IPO in the country so far
Hyundai India's IPO will be worth around Rs 25 thousand crores. If this happens, it will be the biggest IPO in the country so far. In 2022, the government sold its 3.5% stake in LIC. For this, an IPO of about Rs 21 thousand crores was brought.
Hyundai Motor India will be the fourth largest listed auto company
If Hyundai Motor India gets listed in the stock market, it will be the fourth largest automobile company after Maruti-Suzuki, Tata Motors, Mahindra & Mahindra. Hyundai Motor India is the second largest car company in the country after Maruti.
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