Hyundai: The Biggest IPO India Will Ever See?
Hyundai Motor Company is one of the leading automotive manufacturing
companies, which is based in South Korea. Its Indian subsidiary Hyundai
Motor India Limited (HMIL) is likely to launch its IPO which may turn
out to be the biggest IPO ever seen in the Indian stock market.
Let’s explore more about the potential Hyundai IPO for online investing.
About the Hyundai IPO
Hyundai Motor’s Indian subsidiary, Hyundai Motor India Limited (HMIL), has applied for regulatory permission to list its upcoming IPO, which can be the nation’s largest IPO.
This involves selling up to 17.5% stakes of its South Korean parent
company. It will be the first carmaker company to go public in India in
two decades after Maruti Suzuki which was listed in 2003.
Based on the reports, Hyundai intends to raise between $2.5 to 3
billion, with a projected $30 billion valuation. This would place it
among the biggest IPOs to emerge from India following the LICs recent
$2.5 billion IPO in 2022. Based on the SEBI filing, the IPO is an
Offer-for-Sale of approximately 142,194,700 shares, in which the parent
company will sell its shares. There won't be any fresh issue of equity
shares.
For the Hyundai IPO, the book-running lead managers are Kotak Mahindra
Capital Company Ltd, Citigroup Global Markets India Private Ltd, HSBC
Securities and Capital Markets (India) Private Ltd, J.P. Morgan India
Private Ltd, and Morgan Stanley India Company Private Ltd while the
registrar is KFin Technologies Ltd.
Comments
Post a Comment