Hyundai IPO: First Market Debut by a Car Maker in India in Over 2 Decades

hyundai ipo: first market debut by a car maker in india in over 2 decades

Hyundai IPO: South Korea's Hyundai Motor is set to sell a stake of up to 17.5 per cent in the initial public offering (IPO) of its India unit. This IPO could be India's biggest ever, surpassing LIC's share sale of Rs 21,000 crore. Hyundai Motor India will be the first car maker to go public in the country in over two decades, following Maruti Suzuki in 2003.

Hyundai Motor will offer up to 142 million shares for sale in the IPO out of a total of 812 million, according to draft papers filed with India's markets regulator, the Securities and Exchange Board of India (SEBI).

As India's second-biggest car maker after Maruti Suzuki, Hyundai will not issue new shares in this IPO. Instead, the offering will involve its South Korean parent company selling part of its stake in the wholly owned unit to retail and other investors through an "offer for sale" route.

The IPO marks a significant milestone for Hyundai, reflecting its confidence in the Indian market and its commitment to expanding its presence in the country.

HMIL reported a 7 per cent year-on-year increase in total sales at 63,551 units in May 2024 against 59,601 units in the corresponding month last year. Exports of the vehicles grew 31 per cent in May to 14,400 units compared to 11,000 units a year ago.