Hyundai India is going to launch its IPO soon. The company is going to list on the Indian share markets with a high expectation. Hyundai is India’s second biggest carmaker after Maruti Suzuki. The company is going to raise about $2.5 billion to $ 3 billion, which comes under big IPOs. Hyundai files DRHP papers on Saturday, 15 June 2024. A lot of investors are eagerly waiting for the release of the IPO. It recently filed its IPO. Thus, Hyundai will announce further details later.
Hyundai IPO Details
Hyundai files DRHP papers on Saturday with SEBI for raising an IPO worth $2.5 billion to $3 billion. While the company’s valuation will be at $30 billion. The company is a top car manufacturing company in India after Maruti Suzuki. It is a South Korean-based company that has its subsidiary in India as Hyundai India. The company came into existence in 1967. However, it entered India in 1996 as Hyundai Motor India.
Hyundai Motors India will be offering all the Offer For Sale Equity shares. The company will not issue any fresh shares. It will have these OFS shares from Hyundai’s parent company which will sell its stake of 17.5% in the company. However, it can be less than it also. South Korean company will be selling 142 million shares from its stake. It had a total of 812 million shares. The final decision will come out during the IPO launch. The final amount of shares provided as OFS is yet to be final.
Hyundai’s entry into the share market will be the biggest as it is the only car company in the last two decades to enter the share market after Maruti Suzuki in 2003. Thus, the company has high expectations. It is becoming a matter of discussion among the investors. The Indian Share Market and indices grew double in the last five years from 2019 to 2024. However, the Korean Index had only 30% growth, which is the KOSPI index.
India’s market is growing. Thus, the company see it as an opportunity to invest in the country that has more potential. Hyundai’s IPO details such as opening date, closing date, Price band, and other details will be public soon. Hyundai just filed its IPO. Hyundai India performed well in its previous quarter as well. Hyundai’s IPO expects to get a good response as per sources. Its DRHP filing already went viral on social media. People trust the country’s growth. Thus, it has a high chance to perform well in the market.