SEBI has approved Hyundai Motor India’s IPO, bringing the company’s intentions to list one step closer. Hyundai India hopes to raise Rs 25,000 crore, or $3 billion, through the offer, regarded as India’s largest public issue. This indicates a $20 billion valuation for Hyundai. According to rumors, the business may be preparing to list in October.
Offering 142,194,700 shares in total, this Rs 25,000-crore initial public offering (IPO) is most likely going to be an offer-for-sale (OFS). The corporation isn’t looking at any new issue components, according to its June DRHP submission.
Since Maruti Suzuki’s IPO in 2003, Hyundai India’s IPO will be the first significant IPO by a passenger car manufacturer. The largest public issue to date, LIC, has a valuation of Rs 21,008 crore. The issue amount of Paytm was Rs 18,300 crore, while the issue size of Coal India was Rs 15,199 crore.
Hyundai holds the second-largest market share among passenger vehicle manufacturers in India, even though its monthly vehicle sales have fallen below 50,000 for three months running. As of August of this year, 2,47,993 automobiles have been sold.
Hyundai’s August sales total is 49,525 automobiles. The Hyundai Creta, Venue, and Exter are among their best-selling models. The Alcazar 2024 facelift and the 2024 Creta are among the most recent additions to the Hyundai lineup. Surprisingly, the new Creta has exceeded 100,000 units sold in just six months, making it quite the show-stopper on the sales chart. Hyundai’s two most anticipated vehicles are the electric Creta which will go on sale in early January of next year and the Hyundai Tuscon makeover which will happen in November.
