Wed Sep 25 07:51:56 UTC 2024: ## Hyundai Motor India Gets Green Light for IPO, Marking First Automaker Listing in 20 Years
**New Delhi, India:** Hyundai Motor India Ltd, the Indian subsidiary of the South Korean automaker, has received approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO). This landmark decision makes Hyundai the first automaker to go public in India since Maruti Suzuki’s listing in 2003.
The IPO will be an Offer-for-Sale (OFS), where Hyundai Motor Company, the South Korean parent, will be diluting some of its stake by selling 142,194,700 equity shares. The company will not receive any proceeds from the IPO, as it’s a complete OFS.
Hyundai Motor India is the second-largest carmaker in India after Maruti Suzuki, and the listing is expected to enhance its visibility and brand image, providing liquidity and a public market for its shares.
Sources had previously indicated that Hyundai Motor India aimed to raise at least USD 3 billion through the IPO, potentially diluting 15-20% of its stake.
Hyundai Motor India has been operating in India since 1996 and currently offers 13 models across various segments. The company’s IPO comes on the heels of Ola Electric Mobility’s successful listing last month, raising Rs 6,145 crore through its initial share sale.
The IPO is anticipated to be a significant event for the Indian auto industry, and investors will be closely watching its performance in the coming months.
First Piper 