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.