Hyundai IPO– Hyundai Motor, a leading automaker, aims to secure about $3.5 billion through its upcoming initial public offering (IPO), which will likely be the largest IPO in its country. Hyundai has experienced remarkable sales growth in recent years, reflecting its strong market presence. The company is expected to list its shares in early September, a move that is eagerly awaited by investors and industry observers.
According to a Bloomberg report, Hyundai aims to raise at least $3 billion through its IPO, with the potential to push the figure to $3.5 billion. This follows Life Insurance Corp’s $2.5 billion IPO in 2022. Hyundai filed IPO documents with Sebi last month, planning to sell a 17.5% stake.
Hyundai IPO Price
Hyundai proposes to sell 142,194,700 equity shares with a face value of Rs 10 per share, with the aim of generating profit from listing on the stock exchanges. The company expects the move to enhance its visibility and brand image, as well as provide liquidity and public markets for its equity shares in India.
Hyundai IPO in India
Sources reveal that Hyundai is targeting a deal worth at least $3 billion through its IPO, with the potential to reach $3.5 billion. Details about the size and timing are still under discussion and may change. IFR and other media have also reported similar figures, although a Hyundai India representative declined to comment.
Life Insurance Corporation of India (LIC) has raised $2.5 billion through its IPO in 2022. If Hyundai’s IPO crosses $3 billion, it will not only break LIC’s record but will also become one of the largest IPOs in Asia in recent years.
In mid-June, Hyundai submitted a DRHP (draft red herring prospectus) to SEBI, detailing its plan to sell a 17.5% stake equivalent to 142.2 million shares. Notably, Hyundai clarified that these shares do not represent a fresh issuance and the proceeds will accrue to the parent company. Bloomberg data shows that India has seen a significant rise in IPO fund-raising this year, hitting nearly $5 billion, double the amount raised during the same period last year.
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