Wed Oct 09 04:01:02 UTC 2024: ## Hyundai Motor India to Launch Landmark IPO Next Week, Valued at Nearly $19 Billion

**MUMBAI, INDIA – October 12, 2023** – Hyundai Motor India is set to launch its highly anticipated initial public offering (IPO) next week, with the company aiming for a valuation of nearly $19 billion. The IPO, expected to open for institutional investors on October 14 and retail investors from October 15 to 17, will see the South Korean automaker’s Indian subsidiary list on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) on October 22.

The IPO will be India’s largest auto sector listing since Maruti Suzuki’s in 2003, marking a significant milestone for Hyundai Motor India. The offering will involve no fresh issuance of shares, with Hyundai Motor’s South Korean parent offloading up to 17.5 percent of its stake in the Indian subsidiary through an offer for sale (OFS).

With Indian stock markets reaching record highs and a surge in IPO activity, Hyundai Motor India’s IPO is expected to attract significant interest from both institutional and retail investors, fueled by the company’s strong position in the Indian auto market. Hyundai Motor India was the second largest carmaker in India after Maruti Suzuki in FY24 in terms of passenger sales volumes.

The IPO is expected to surpass previous records, including the Rs 21,000-crore ($2.7 billion) public offering by Life Insurance Corporation (LIC) in 2022. Following the IPO, Hyundai Motor will retain an 82.5 percent equity stake in Hyundai Motor India.

The IPO is part of Hyundai Motor India’s strategy to boost its visibility and brand image in the domestic market while providing liquidity for its shares. The company filed its draft red herring prospectus (DRHP) in June and secured approvals from the Securities and Exchange Board of India (SEBI) shortly after.

On the Korean stock exchange, Hyundai Motor’s parent company has seen its share price return over 34 percent gains in the past year, significantly outperforming the benchmark KOSPI index, which gained approximately 10 percent.

**Disclaimer:** This article is based on publicly available information and does not constitute financial advice. Please consult with a certified financial advisor before making any investment decisions.

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