Hyundai Motor India has received approval from SEBI for its upcoming IPO. Hyundai Motor India is a significant development in the Indian automotive sector and the capital markets.which is expected to raise around $3 billion, making it the largest IPO in India’s history. The company plans to offer 14.2 crore equity shares as part of a pure Offer for Sale (OFS) by the promoter, Hyundai Motor Co.
IPO Details:
Size : The IPO is expected to raise around $3 billion, making it the largest IPO in India’s history.
Offer Type: It will be a pure Offer for Sale (OFS) by the promoter, Hyundai Motor Co.
Shares on Offer: The company plans to offer 14.2 crore equity shares.
Objectives: The IPO aims to boost Hyundai’s visibility, enhance brand recognition, and provide liquidity in the Indian market.
IPO Timeline and Expectations:
Launch: The IPO is expected to launch by October 2024.
Record Breaking Potential: The IPO could surpass the previous record set by LIC’s IPO in 2022, becoming the largest IPO in India’s history.
Market Confidence: A successful IPO by a leading automotive player could boost investor confidence in the Indian market and attract more capital inflows.
It is important to note that the success of the IPO will depend on various factors, including market conditions, investor sentiment, and the company’s performance. However, given Hyundai’s strong brand, market position, and the favorable IPO environment in India, the IPO is expected to be well-received by investors.