Wed Oct 09 04:43:05 UTC 2024: ## Hyundai India to Launch ₹25,000 Crore IPO This Month
**New Delhi:** South Korean automotive giant Hyundai Motor is set to launch its initial public offering (IPO) in India this month. The IPO, estimated at ₹25,000 crore, will open for subscription on October 14th, according to sources.
The Hyundai IPO is poised to become India’s largest IPO, surpassing the ₹21,000 crore IPO of Life Insurance Corporation of India (LIC).
The IPO has already received approval from the Securities and Exchange Board of India (SEBI). The company will offer 14.21 crore equity shares, including a fresh issue component, and will also see the parent company offloading some of its stake through an offer for sale.
Hyundai’s entry into the market comes at a time when 62 companies have already raised over ₹64,000 crore through IPOs. This will be the first automotive company to hit the stock markets in nearly two decades, since Maruti Suzuki listed in 2003.
The IPO announcement coincides with the festive season, as Hyundai’s sister company Kia is launching its Carnival and EV9 models in the Indian market. Hyundai currently sells 13 models in India, where it started operations in 1996.
Another highly anticipated IPO, that of food delivery platform Swiggy, has also received approval from SEBI. The company aims to raise ₹10,414 crore through its IPO, which is expected to open for subscription soon.
Investor interest in both these IPOs is high, making them significant events in the Indian market.
First Piper 