Mon Oct 14 04:23:09 UTC 2024: ## Hyundai Motor India to Launch India’s Biggest IPO, Aims to Raise ₹27,870 Crore
**New Delhi, October 14:** South Korean automotive giant Hyundai Motor India is set to launch India’s largest Initial Public Offering (IPO), aiming to raise ₹27,870 crore (US$ 3.3 billion). The IPO will open for subscription from October 15 to 17, with a price band of ₹1,865 to ₹1,960 per share.
This landmark IPO will surpass the previous record held by Life Insurance Corporation of India (LIC), which raised ₹22,500 crore in its IPO. The IPO represents 17.5% of Hyundai Motor India’s total equity, with 14.2 crore shares being offered. The IPO is expected to be a hot draw for investors, with 50% of the shares allocated to institutional investors.
Hyundai Motor India, the Indian subsidiary of the global automotive giant, has established a strong presence in the country since its entry in 1996. The company’s India operations recorded a revenue of ₹60,000 crore in the financial year 2023, with a net profit of ₹4,653 crore. This makes Hyundai Motor India the highest-revenue generating unlisted auto manufacturer in the country.
The IPO is expected to be a significant event for the Indian capital market. It will mark the first time Hyundai will list its shares outside South Korea. The last time a car manufacturer went public in India was in 2003, when Maruti Suzuki hit the stock market.
“We believe the IPO will be a success, given the company’s strong brand reputation, robust financials, and the increasing demand for automobiles in India,” said an industry expert.
The IPO will be managed by a consortium of global financial institutions, including Citi, HSBC Securities, Kotak Mahindra Capital, and Morgan Stanley.
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