New Delhi:
Hyundai Motor India Limited, the Indian subsidiary of Hyundai Motor Company, is gearing up for the country’s largest Initial Public Offering (IPO) yet.
The company has submitted draft papers to SEBI (Securities and Exchange Board of India) with the aim of
raising approximately ₹25,000 crore ($3 billion) at a targeted valuation of $18-20 billion.
Hyundai Motor India’s Ambitious IPO Plans
Hyundai Motor India’s IPO will entirely consist of an Offer for Sale (OFS) by its parent company, Hyundai Motor Company.
The offering will include up to 142,194,700 shares with a face value of ₹10 each, as outlined in the Draft Red Herring Prospectus (DRHP).
Leading Investment Banks and Legal Counsel
Citi, HSBC Securities, JP Morgan, Kotak Mahindra Capital, and Morgan Stanley have been appointed as the investment banks advising on Hyundai Motor India’s IPO.
Legal counsel for the company is being provided by Shardul Amarchand Mangaldas.
Business Performance and Market Position
In FY24, Hyundai Motor India emerged as the second-largest carmaker in India after Maruti Suzuki,
based on passenger vehicle sales.
The company reported a robust financial performance with revenues amounting to ₹60,000 crore and a profit of ₹4,653 crore in FY23,
marking the highest among non-listed carmakers in the country.
