Wed Oct 09 07:21:33 UTC 2024: ## Hyundai Motor India to Launch Largest IPO in India, Aiming for $3 Billion
**Mumbai, India (October 9, 2024):** Hyundai Motor India, the second largest car manufacturer in the country, is set to launch its initial public offering (IPO) on October 15th. The IPO, aiming to raise a record-breaking $3 billion, will be the largest in India since the Life Insurance Corporation of India’s offering in 2022.
The IPO will consist solely of an offer-for-sale, with Hyundai Motor Company, the South Korean parent company, selling 14.2 crore equity shares. The price band for the IPO will be announced on October 9th. Institutional investors will have the opportunity to participate in the anchor book on October 14th.
Hyundai Motor India has been a dominant player in the Indian passenger vehicle market, consistently ranking second in domestic sales volumes since FY09. Additionally, the company has been the country’s second largest exporter of passenger vehicles since April 2021.
The IPO is expected to attract significant investor interest due to the company’s strong financial performance and market position. Hyundai Motor India’s net profit grew by 12.1% year-on-year to Rs 1,489.6 crore in the quarter ended June 2024, with healthy operating numbers and an expanding EBITDA margin.
“The pre-IPO market for companies like Hyundai Motor India is heated up with demands from mature investors,” said Divam Sharma, co-founder of Green Portfolio. “We foresee a bumper appetite for IPOs will continue.”
The allotment of shares will be finalized by October 18th, and the shares will be credited to successful investors’ demat accounts by October 21st. Trading will begin on the BSE and NSE on October 22nd.
Hyundai Motor India’s IPO is a significant event for the Indian automobile sector and is expected to generate substantial interest from both domestic and international investors.
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