Wed Oct 09 00:42:48 UTC 2024: ## Hyundai Motor India to Launch Mega IPO Next Week, Seeking $3 Billion

**New Delhi, India** – Hyundai Motor India is poised to launch its highly anticipated Initial Public Offering (IPO) next week, aiming to raise over $3 billion (Rs 28,000 crore), according to a Reuters report. This would make it the largest IPO in the history of the Indian stock market.

The South Korean automaker will be selling 17.5% of its stake, representing 1.42 billion shares, with a price range of Rs 1,865-1,960 per share. This values the company at a whopping $19 billion.

Hyundai Motor India will be the first listing by the company outside of South Korea and the first IPO by a car manufacturer since Maruti Suzuki in 2003. The anchor book will open on Monday, October 14th, with the three-day bidding period starting on Tuesday, October 15th, and concluding on Thursday, October 17th. The listing is expected on Tuesday, October 22nd.

The company, which holds the second-largest market share in India after Maruti Suzuki, is focused on expanding its SUV lineup and regaining market share from local competitors. Hyundai Motor India also plans to launch its first India-made electric vehicle early next year and introduce gasoline-powered models tailored to the Indian market starting in 2026.

The buzz surrounding the upcoming IPO has driven up the grey market premium (GMP) of Hyundai Motor India to Rs 280 per share. The company’s robust growth plans and strong market position make it a highly anticipated IPO.

Hyundai Motor India, established in 1996, is part of the Hyundai Motor Group, the world’s third-largest auto OEM based on passenger vehicle sales. The company offers a wide range of vehicles, including sedans, hatchbacks, SUVs, and EVs, through a network of 1,366 sales points and 1,550 service points across India.

Kotak Mahindra Capital Company, Citigroup Global Markets India, HSBC Securities & Capital Markets, JP Morgan India, and Morgan Stanley India Company are the book running lead managers for the Hyundai Motor IPO, with Kfin Technologies serving as the registrar.

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